A bond portfolio contains 40 identical bonds, each with a 5%probability of defaulting. Defaults are independent. What
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A bond portfolio contains 40 identical bonds, each with a 5%probability of defaulting.
Defaults are independent. What is the probability that exactly four bonds default?
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Related Book For 
Quantitative Financial Risk Management
ISBN: 9781119522201,9781119522263
1st Edition
Authors: Michael B. Miller
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