You are bidding on five items available on an online shopping site. You think that for each bid you have a 30% chance of winning it, and the outcomes of the five bids are independent events. Let X denote the number of winning bids out of the five items you bid on. Find the probabilities. a. Explain why the distribution of X can be modeled by the binomial distribution.
A. The trials are dependent.
B. The data are not binary.
C. Probabilities of success for trials (bids) differ for each trial.
D. The number of bids varies.
E. The trials are independent.
F. There are a fixed number of bids.
G. There is the same probability of success for each trial (bid).
H. The data are binary.
b. Find the probability that you win exactly 3 bids.
c. Find the probability that you win 3 bids or fewer.
d. Find the probability that you win more than 3 bids.