3. Given that 55% of oil dealers believe that next year will be a good year to speculate in North Sea oil, in a random sample of 100 dealers what is the probability that between 50% and 60% of dealers believe that it will be a good year to speculate in North Sea oil?

a) 0.157 b) 0.685 c) 0.853 d) 0.926 e) 0.937
Show the calculations using appropriate notation to support the answer you chose: