1. Coca-Cola is one of the world’s leading recognizedbrands of soft drinks. A market researcher did

1. Coca-Cola is one of the world’s leading recognizedbrands of soft drinks. A market researcher did a study andfound that Coca-Cola has a brand recognition rate of 95%.We randomly select 5 people. Please use the binomialcalculator described in the synopsis of the binomialdistribution to answer the following questions:a. What are the values for n, p, and q?b. What is the probability that exactly 3 of the 5 peoplerecognize the Coca-Cola brand name?c. What is the probability that the number of people, whorecognize the Coca-Cola brand are 3 or fewer?2. The following problems are designed to give you practicecalculating z scores and using them to solve problemsAccording to U.S. News & World Report data, in 1995 tuitioncosts at Indiana University, a public university, were $2,984per year, while the tuition costs at the University ofEvansville, a private university in Indiana, were $11,800 peryear. In that same year the average cost of tuition at allpublic U.S. colleges was $2,208, with a standard deviation of$1,041, and the average cost of tuition at all private U.S.colleges was $10,979.68, with a standard deviation of$4,057.a. What is the z score for Indiana University?b. What is the z score for the University of Evansville?c. Which school was more expensive to attend in 1995,relative to the cost of education in its own category?d. What is the probability of a private university costingless than $11,800? (Hint: Use the mean and standarddeviation values for all private schools to answer thisquestion.)e. What is the probability of a public university costing lessthan $2,984? (Hint: Use the mean and standard deviationvalues for all public schools to answer this question.)