Recently, the head of the Federal Deposit Insurance Corporation (FDIC) revealed that the agency maintains a secret list of banks suspected of being in financial trouble. The FDIC chief further stated that of the nation's 14,000 banks, 1,600 were on the list at the time. Suppose that, in an effort to diversify your savings, you randomly choose six banks and split your savings among them. What is the probability that no more than three of your banks are on the FDIC's suspect list?
Answer to relevant QuestionsAn applicant for a faculty position at a certain university is told by the department chair that she has a 0.95 probability of being invited for an interview. Once invited for an interview, the applicant must make a ...In the previous problem, the time that it takes the airbag to completely fill up from the moment of activation has an exponential distribution with mean 1 second. What is the probability that the airbag will fill up in less ...The mean time between failures (MTBF) of a hydraulic press is to be estimated assuming that the time between failures (TBF) is exponentially distributed. A foreman observes that the chance that the TBF is more than 72 hours ...Find two values of the standard normal random variable, z and – z, such that the two corresponding tail areas of the distribution add to 0.01. The number of votes cast in favor of a controversial proposition is believed to be approximately normally distributed with mean 8,000 and standard deviation 1,000. The proposition needs at least 9,322 votes in order to pass. ...
Post your question