In the past year, 13% of businesses have eliminated jobs. If 4 Businesses are selected at random, find the probability that at least 2 have eliminated jobs during the last year.

Question

Round your answer to three decimal places.

P(At least you have a limited job store in the last year)=

Answer 1

Here is the binomial table with N=4 trials, probability of success p=0.13;

k N-k N choose K p^k q^(N-k) prob cumulative prob.

0 4 1 1 0.57289761 0.57289761 0.57289761

1 3 4 0.13 0.658503 0.34242155999999996 0.9153191699999998

2 2 6 0.0169 0.7569 0.07674966000000001 0.9920688299999999

3 1 4 0.002197 0.87 0.007645560000000001 0.99971439

4 0 1 0.00028561 1 0.00028561 1

So the probability of at least two is Prob(x>=2) = 1 -Prob(x<2) = 1 - (Prob(0) + Prob(1))

=1 - 0.9153197

= 0.0846803

Note that this answer agrees with Prob(x=2)+Prob(X=3)+Prob(X=4)

Final answer 8.46803+ %