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Question 2: USA Today estimated that 70% of US college students receive spending money from their parents while they are away from home attending college. In a sample of 100 college students, what is the probability that… exactly 70 are receiving spending money from their parents? Less than 70 students are receiving spending money from their parents? More than 70 students are receiving spending money from their parents? Question 3: An increasing number of consumers believe they have to look out for themselves in the marketplace. According to a survey conducted by the Yankelovich Partners for USA WEEKEND magazine, 60% of all consumers have called an information line for a product. Suppose a random sample of 25 consumers is contacted and interviewed about their buying habits. What is the probability that 15 or more of these consumers have called an information line for a product? What is the probability that more than 20 of these consumers have called an information line for a product? Question 4: According to the Financial Planners Standards Council, 22% of certified financial planners (CFPs) earn between $100,000 and $149,999 per year. Thirty-two percent earn $150,000 or more. Suppose a complete list of all CFPs is available and 18 are randomly selected from that list. What is the expected number of CFPs who earn between $100,000 and $149,999 per year? What is the expected number who earn $150,000 or more per year? What is the probability that at least eight CFPs earn between $100,000 and $149,999 per year? What is the probability that two, three, or four CFPs earn more than $150,000 per year?

Question 2: USA Today estimated that 70% of US college students receive spending money from their parents while they are away from home attending college. In a sample of 100 college students, what is the probability that… exactly 70 are receiving spending money from their parents? Less than 70 students are receiving spending money from their parents? More than 70 students are receiving spending money from their parents?

Question 3: An increasing number of consumers believe they have to look out for themselves in the marketplace. According to a survey conducted by the Yankelovich Partners for USA WEEKEND magazine, 60% of all consumers have called an information line for a product. Suppose a random sample of 25 consumers is contacted and interviewed about their buying habits. What is the probability that 15 or more of these consumers have called an information line for a product? What is the probability that more than 20 of these consumers have called an information line for a product?

Question 4: According to the Financial Planners Standards Council, 22% of certified financial planners (CFPs) earn between $100,000 and $149,999 per year. Thirty-two percent earn $150,000 or more. Suppose a complete list of all CFPs is available and 18 are randomly selected from that list. What is the expected number of CFPs who earn between $100,000 and $149,999 per year? What is the expected number who earn $150,000 or more per year? What is the probability that at least eight CFPs earn between $100,000 and $149,999 per year? What is the probability that two, three, or four CFPs earn more than $150,000 per year?

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