A student majoring in accounting is trying to decide on the number of firms to which he should apply. Based on his work experience and grades, his...

A student majoring in accounting is trying to decide on the number of firms to which he should apply. Based on his work experience and grades, his success rate in securing a job offer is 15%. If the student applies to 8 firms

(a) How many job offers he expects to get?

(b) What is the probability that he receives no job offer?

(c) What is the probability that more than half of the firms he applied do not make him any offer?

(d) What assumptions do you need to make to find the probabilities? To increase the chance of securing more job offers, the student decides to apply to as many companies as possible, he sent out 50 applications to all different accounting firms.

(e) What is the probability of him securing more than 3 offers? [Hint: use normal approximate]