# Question

An official from the securities commission estimates that 25% of all investment bankers have profited from the use of insider information. If 15 investment bankers are selected at random, find the probability that:

a. All 15 have profited from insider information.

b. At least six have profited from insider information.

Suppose the experiment was repeated, and three investment bankers were selected.

c. What is the probability that one of them profited from insider information?

a. All 15 have profited from insider information.

b. At least six have profited from insider information.

Suppose the experiment was repeated, and three investment bankers were selected.

c. What is the probability that one of them profited from insider information?

## Answer to relevant Questions

Companies that sell mutual funds charge their investors expense fees to offset the costs of research and administration. The distribution of expense fees is normal, with a mean of 2.5% and a standard deviation of 1.0%. a. ...Suppose the average credit card debt of Canadian households is normally distributed with a mean of $2,400 and a standard deviation of $756. a. What proportion of credit card debt is less than $1,000? b. What proportion of ...Calculate the mean and standard deviation for the probability distribution you created in Exercise 3 above. Represent the probability distribution graphically. A cereal manufacturer claims that 10% of its cereal boxes contain a free ticket to the movies. Because you have eaten several boxes of cereal without finding a movie ticket, you are suspicious of this claim. You set up a ...Suppose the cereal boxes in a factory are supposed to contain 645 grams of cereal. Assume that when the filling line is properly adjusted, the weights of the cereal boxes are normally distributed with a standard deviation of ...Post your question

0