Statistics homework question?

Posted on 2014-04-11 06:18:00 in Statistics by BURN

I have spent quite some time on this question and I can't figure out the right answer :/ Can someone explain it to me, would greatly appreciate it.



A household goods company has recently set up an on-line order system, which has been in operation for 73 days.

When a customer attempts to place an on-line order with a company marketing household goods, a computerized system automatically checks whether the customer has exceeded their credit limit. Past records indicate that the probability of customers exceeding their credit limit is 0.06. Suppose that on a given day 23 customers attempt to place orders with the company. Assume that the number exceeding their credit limit is distributed as a binomial random variable. On that day:



a) Find the probability that no customers exceed their credit limit. Give your answer in the form x.xx (i.e. to two decimal places).



b)Find the probability that no more than half the customers exceed their credit limit. Give your answer in the form x.xx (i.e. to two decimal places).



c)What is the expected number of customers exceeding their credit limit on a day when there are 23 customers? Give your answer in the form x.xx (i.e. to two decimal places).

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