A successful venture capital firm reports that it finances only 10% of the proposals that it receives.

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A successful venture capital firm reports that it finances only 10% of the proposals that it receives. A check of 100 randomly selected proposals shows that 8 of them were financed by the firm. Estimate the probability that among 100 proposals, 8 or fewer were financed by the firm. Based on the result, does it seem that the venture capital firm's claim is correct?
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Elementary Statistics

ISBN: 9780321225979

3rd Canadian Edition

Authors: Mario F. Triola

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