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Recently, the head of the Federal Deposit Insurance Corporation (FDIC) revealed that the agency maintains a secret list of banks

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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?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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Complete Business Statistics

Complete Business Statistics

ISBN: 9780077239695

7th Edition

Authors: Amir Aczel, Jayavel Sounderpandian

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Question Posted: June 03, 2015 05:47:59
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