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Fraud detection has become an indispensable tool for banks and credit card companies to combat fraudulent credit card transactions. A fraud detection firm has detected

Fraud detection has become an indispensable tool for banks and credit card companies to combat fraudulent credit card transactions. A fraud detection firm has detected some form of fraudulent activities in 1.45%, and serious fraudulent activities in 0.84%, of transactions. Suppose that 214 transactions are randomly selected.

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