Problem

A binomial probability experiment is conducted with the given parameters. Compute the probability of $\mathrm{x}$ successes in the $n$ independent trials of the experiment. \[ n=60, p=0.04, x=2 \] \[ P(2)= \] (Do not round until the final answer. Then round to four decimal places as needed.)

Solution

Step 1 :Given parameters are: number of trials (n) = 60, probability of success (p) = 0.04, and number of successes (x) = 2.

Step 2 :We use the binomial probability formula to calculate the probability of 2 successes in 60 trials with a success probability of 0.04. The formula is: \(P(x) = C(n, x) * (p^x) * ((1-p)^(n-x))\)

Step 3 :First, we calculate the combination of n items taken x at a time, denoted as \(C(n, x)\). In this case, it is the combination of 60 items taken 2 at a time, which equals 1770.

Step 4 :Next, we calculate \(p^x\), which is the probability of success raised to the power of the number of successes. In this case, it is \(0.04^2\), which equals 0.0016.

Step 5 :Then, we calculate \((1-p)^(n-x)\), which is the probability of failure raised to the power of the number of failures. In this case, it is \((1-0.04)^(60-2)\), which equals approximately 0.0937.

Step 6 :Finally, we substitute these values into the binomial probability formula to get the probability of 2 successes in 60 trials with a success probability of 0.04. The calculation is \(P(2) = 1770 * 0.0016 * 0.0937\), which equals approximately 0.2654.

Step 7 :So, the probability of 2 successes in 60 trials with a success probability of 0.04 is approximately \(\boxed{0.2654}\).

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Source: https://solvelyapp.com/problems/18731/

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