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To find the probability that exactly five out of ten voters will vote in favor, we need to use the binomial probability formula:
P(X=k) = (n choose k) * p^k * (1-p)^(n-k)
Where:
n = total number of trials (10 voters)
k = number of successful trials (5 voters in favor)
p = probability of success on each trial (0.76 in this case)
Plugging in the values:
P(X=5) = (10 choose 5) * 0.76^5 * (1-0.76)^(10-5)
P(X=5) = 252 * 0.76^5 * 0.24^5
P(X=5) = 252 * 0.10301 * 0.002915
P(X=5) = 0.0751
So, the probability that exactly five out of ten voters will vote in favor of the initiative is approximately 7.51%, which is closest to option 5.1%.