Answer:
The probability that all four received a raised when they asked for one is 0.370.
Step-by-step explanation:
Let the random variable X represent the number of business executives who received a pay raise when they asked for one.
The probability that a business executives received a pay raise when they asked for one is, p = 0.78.
A random sample of n = 4 executives was selected.
The events of any executive receiving a pay raise when they asked for one is independent of the others.
The random variable X follows a Binomial distribution with parameters n = 4 and p = 0.78.
The probability mass function of X is:
[tex]P(X=x)={4\choose x}\ (0.78)^{x}\ (1-0.78)^{4-x};\ x=0,1,2,3...[/tex]
Compute the probability that all four received a raised when they asked for one as follows:
[tex]P(X=4)={4\choose 4}\ (0.78)^{4}\ (1-0.78)^{4-4}[/tex]
[tex]=1\times 0.37015056\times 1\\\\=0.37015056\\\\\apporx 0.370[/tex]
Thus, the probability that all four received a raised when they asked for one is 0.370.