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visna
 
Reply Sun 9 Apr, 2017 09:30 am
the 29% of the loans given by a bank are high cost loans. if 5 cases of were selected what is the probability that
i) none are high cost loans
ii) all 5 are high cost loans
iii) at least 2 are high cost loans
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Type: Question • Score: 0 • Views: 708 • Replies: 1
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ekename
 
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Reply Sun 9 Apr, 2017 10:00 pm
@visna,
Use the binomial distribution.

http://ncalculators.com/images/formulas/binomial-distribution.jpg

The link below contains some easy to follow examples.

http://www.probabilityformula.org/binomial-probability-formula.html#
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