4.96 A team of 5 analysts is about to examine the earnings prospects of 20 corporations. Each...
Question:
4.96 A team of 5 analysts is about to examine the earnings prospects of 20 corporations. Each of the 5 analysts will study 4 of the corporations. These analysts are not equally competent. In fact, one of them is a star, having an excellent record of anticipating changing trends. Ideally, management would like to allocate the 4 corporations whose earnings will deviate most from past trends to this analyst. However, lacking this information, management allocates corporations to analysts randomly. What is the probability that at least 2 of the 4 corporations whose earnings will deviate most from past trends are allocated to the star analyst?
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780273767060
8th Global Edition
Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne