Question: help me understand 5. Probability that Two or More Online Retail Orders Will Be Fraudulent This is ( P(X geq 2) ), which can be

help me understand 5. Probability that Two or More Online Retail Orders Will Be Fraudulent This is ( P(X \geq 2) ), which can be calculated by subtracting the probability of ( X < 2 ) (i.e., ( X = 0 ) or ( X = 1 )) from 1. First calculate ( P(X = 0) ) and ( P(X = 1) ) as above. Then, in Excel: Type `=1 - (BINOM.DIST(0, 20, 0.04

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!