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Use Excel for the following binomial distribution probabilities. A hotel claims that 93% of its customers are very satisfied with its service. Complete parts a) through e) below based on a random sample of 10 customers. (7.5 points)
a) What is the probability that exactly 7 customers are very satisfied?
b) What is the probability that more than 8 customers are very satisfied?
c) What is the probability that less than 5 customers are very satisfied?
d) What is the probability that at least 9 customers are very satisfied?
e) What is the probability that most customers are very satisfied?
To calculate the probability of exactly x successes, use the formula BINOMDIST(X, n, p, 0), where X is the number of successes, n is the sample size, p is the probability of success as a decimal, and 0 is for the cumulative being false. For part a), for instance, you would use BINOMDIST(7, 10, 0.93, 0). When using the cumulative, change it to true. This will find the probability of x and below. For parts b) through e), you will need to adjust whether you are using the complement and whether or not you include your end point. For instance, part b) would be strictly more than 8, so the formula would be BINOMDIST(8, 10, 0.93, 1). Adjust the next formula as needed.
Label each of your answers as a) through e). Highlight your answer. Round your answers to exactly two decimal places. Verify your answers by selecting each cell and checking the formulas, not just typing the answer from the calculator.