Question: A company starts a fund of M dollars from which
A company starts a fund of M dollars from which it pays $1000 to each employee who achieves high performance during the year. The probability of each employee achieving this goal is 0.10 and is independent of the probabilities of the other employees doing so. If there are n = 10 employees, how much should M equal so that the fund has a probability of at least 99% of covering those payments?
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