According to a daily newspaper, the probability is about 0.77 that the favorite in a horse race will finish in the money (first, second, or third place). Use this information to answer the following questions.In the next five races, what is the probability that the favorite finishes in the money exactly twice? Round to three decimal places as needed.In the next five races, what is the probability that the favorite finishes in the money exactly four times? Round to three decimal places as needed.In the next five races, what is the probability that the favorite finishes in the money at least four times? Round to three decimal places as needed.In the next five races, what is the probability that the favorite finishes in the money between two and four times, inclusive? Round to three decimal places as needed.What is the average number of races out of the next five that the favorite will finish in the money?What is the standard deviation of the random variable? Round to three decimal places, as needed.Would this probability distribution be left skewed, right skewed, or symmetric?
Finding the probability
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