The local bank manager has found that one out of every 400 bank loans end up in
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The local bank manager has found that one out of every 400 bank loans end up in default. Last year the bank made 400 loans. What is the probability that two bank loans will end up in default?
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This problem can be solved using the binomial probability formula The binomial distribution model is ...View the full answer
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Related Book For
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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