Jane Wormley is a professor of management at a university. She expects to be able to use

Question:

Jane Wormley is a professor of management at a university.
She expects to be able to use her grant money to fund up to two students for research assistance. While she realizes that there is a 5% chance that she may not be able to fund any student, there is an 80% chance that she will be able to fund two students.
a. What is the probability that Jane will fund one student?
b. Construct a cumulative probability of the random variable defined as the number of students that Jane will be able to fund.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...