By using Binomial probability distribution, the mean number of adults who would have bank savings accounts is 32.
For every survey, there are only two possible outcomes.
First- they have bank savings accounts,
second- they do not.
So, by using the binomial probability distribution we can solve this problem.
Probability of exactly Y successes in ‘n’ repeated trials, with ‘p’ probability.
Probability = p
Successes repeated = n times
The value of the binomial distribution is:
E(Y) = n x p
In this problem, we have that:
p = 0.64
If we were to survey among 50 randomly selected adults, the mean number of adults who would have bank savings accounts is,
E(Y) when, n = 50
So,
E(Y)= n x p
= 50 x 0.64
= 32
Hence ,our required answer is 32 adults who would have bank savings accounts
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