Step 1 :This is a binomial experiment because there are only two possible outcomes (a flight being on time or not), the probability of a flight being on time is constant at 80%, and the flights are independent of each other.
Step 2 :The values of n and p for the binomial distribution are given in the question. n is the number of trials, which is 10, and p is the probability of success, which is 80% or 0.8.
Step 3 :To find the probability of exactly 7 flights being on time, we can use the formula for the binomial probability: \(P(X = k) = C(n, k) * (p^k) * ((1 - p)^(n - k))\), where \(P(X = k)\) is the probability of k successes in n trials, \(C(n, k)\) is the number of combinations of n items taken k at a time, p is the probability of success, and n and k are the number of trials and successes, respectively.
Step 4 :The probability of exactly 7 flights being on time is approximately 0.2013.
Step 5 :To interpret the probability, we can multiply the probability by 100 to get the expected number of times out of 100 trials that exactly 7 flights will be on time.
Step 6 :In 100 trials of this experiment, it is expected that about 20 will result in exactly 7 flights being on time.
Step 7 :Final Answer: The probability that exactly 7 flights are on time is approximately \(\boxed{0.2013}\). In 100 trials of this experiment, it is expected that about \(\boxed{20}\) will result in exactly 7 flights being on time.