3) In a typical month, an insurance agent presents life insurance plans to 40 potential customers. Historically, one in

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3) In a typical month, an insurance agent presents life
insurance plans to 40 potential customers. Historically, one in
four such customers choose to buy life insurance from this agent.
NEED FORMULAS TO SOLVE IN EXCEL
a.What is the numerical value of probability of success in this
problem?
b. What is the total number of trials?
c. Create a probability distribution table which includes
probability of each possible outcome. Also create the cumulative
probability column.
d. What is the probability that exactly five customers will buy
life insurance from this agent in the coming month?
e. What is the probability that no more than 10 customers will
buy life insurance from this agent in the coming month?
f. What is the probability that at least 20 customers will buy
life insurance from this agent in the coming month?
g. Determine the mean and standard deviation of the number of
customers who will buy life insurance from this agent in the coming
month?
h. What is the probability that the number of customers who buy
life insurance from this agent in the coming month will lie within
two standard deviations of the mean?