More than 200 billion grocery coupons are distributed each year for discounts exceeding $84 billion. However, according to a report in USA Today, only 3.2% of the coupons are redeemed. If a company distributes 5000 coupons, what is the probability that:
(a) at least 100 coupons are redeemed?
X>=100
N=5000 P= .0320
U=N*P= 5000 * .0320 = 160
Std Dev= Sqrt5000(.032)(.968) = 13.07
Z= 100 – 160/13.07 = -4.59
P(x >= 100) = P(z >= -4.59)
Now the problem I have is the z answer is well outside of the z chart to get the answer. Can someone please tell me what I did wrong?
(a) at least 100 coupons are redeemed?
X>=100
N=5000 P= .0320
U=N*P= 5000 * .0320 = 160
Std Dev= Sqrt5000(.032)(.968) = 13.07
Z= 100 – 160/13.07 = -4.59
P(x >= 100) = P(z >= -4.59)
Now the problem I have is the z answer is well outside of the z chart to get the answer. Can someone please tell me what I did wrong?