Q1. A recent study shows that 20% of all employees prefer their vacation time during March break. If a company employs 50 people, what is the probability that:
a) Fewer than 5 employees want their vacation during March break?
b) More than 5 employees want their vacation during March break?
c) Exactly 5 employees want their vacation during March break?
d) More than 5 but fewer than 15 employees want their vacation during March break?
Q2. In establishing warranties on HDTV sets, the manufacturer wants to set the limits so that few will need repair at manufacturer expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer. For a new HDTV the mean number of months until repairs are needed is 36.84 with a standard deviation of 3.34 months. Where should the warranty limits be set so that only 10 percent of large screen TV's need repairs at the manufacturer's expense?