PTR Investment Bank employed Gregory, a new analyst with five years of Wall Street experience. Morningstar published Gregory's performance record from his Wall Street activities. Clients of PTR Investment are assigned to the analysts based on a randomized algorithm. The probability of a new client being assigned to Gregory is 41%. What is the probability that 7 out of 15 clients will be assigned to Gregory? Assume that the assignment of clients is Poisson-distributed. (5 Marks)

Answer rating: 100% (QA)

To solve this problem we can use the Poisson distribution formula and calculate the probabilit... View the full answer