It is reported that 23% of the home mortgages in Cowlitz County are "underwater".For 50 randomly selected home mortgages, compute the standard deviation of the random variable "number of underwater home mortgages" in the sample of 50.Assume all the binomial conditions are met.
A)3.66
B)4.38
C)1.33
D)2.98
E)1.80

Question

Quizplus · Accepted Answer

The standard deviation for a binomial distribution is calculated using the formula √(n * p * (1-p)), where n is the number of trials (50), and p is the probability of success (0.23). Plugging in the values: √(50 * 0.23 * 0.77) ≈ 2.98.

It Is Reported That 23% of the Home Mortgages in Cowlitz