Find the mean of the binomial random variable. Round to two decimal places when necessary.
-The probability is 0.3 that a person shopping at a certain store will spend less than $20. For groups of size 16, find the mean number who spend less than $20.
A)14
B)11.2
C)6
D)4.8

Question

Find the mean of the binomial random variable. Round to two decimal places when necessary.
-The probability is 0.3 that a person shopping at a certain store will spend less than $20. For groups of size 16, find the mean number who spend less than $20. 
A)14
B)11.2
C)6
D)4.8

Quizplus · Accepted Answer

The mean of a binomial random variable is given by the formula μ = np, where n is the number of trials (in this case, the group size of 16) and p is the probability of success (in this case, 0.3). Thus, the mean is 16 * 0.3 = 4.8.

Find the Mean of the Binomial Random Variable