A manager randomly selected 25 large cash transactions at a bank that were made in January. The
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(a) Is it appropriate to use a binomial model in this situation?
(b) If the chance for a procedural error is 10%, is it likely that the manager finds more than two such transactions? For this component, argue informally, without computing the probability, from the characteristics of the binomial model.
(c) Find the probability in part (b).
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Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780321890269
2nd Edition
Authors: Robert Stine, Dean Foster
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