According to a survey, 78% of residents in Summerville own a home. If 30 residents are randomly selected, find the probability exactly 24 residents own a home.

0.1732 = 17.32% probability exactly 24 residents own a home.

Step-by-step explanation:

For each resident, there are only two possible outcomes. Either they own a home, or they do not. The probability of a resident owning a home is independent of any other resident. This means that the binomial probability distribution is used to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

In which is the number of different combinations of x objects from a set of n elements, given by the following formula.

And p is the probability of X happening.

78% of residents in Summerville own a home.

This means that

30 residents are randomly selected:

This means that

Find the probability exactly 24 residents own a home.

This is P(X = 24).

0.1732 = 17.32% probability exactly 24 residents own a home.

the correct answer is $7.38

step-by-step explanation: