Solve the following:
Q: In the past few years out sourcing over seas has become more frequently used than before by U.S. companies. However, out souring is not with out problems. A recent survey indicates that 20% of the companies that outsource over seas use consultant. Suppose 7 companies that outsource are selected randomly (use formula)
a. What is the probability that exactly five companies that outsource overseas use a consultants.
b. What is the probability that 5 or more companies use consultants?
c. Calculate the expected value.
d. Calculate the standard deviation.