A closed economy has income of $1,000, government spending of $200, taxes of $150, and investment of $250. What is private savin
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Answer:
The binomial probability formula can not be used for this experiment because it does not state the number of times he expects to draw his favorite suit.
Step-by-step explanation:
The binomial probability formula is expressed as follows:
P (k success in n trials) =
n = number of trials, k = number of successes, n-k = number of failures, p = probability of success in one trial and q = 1 - p = probability of failure in one trial.
In the given problem, all of the variables are known except for 'k', the amount of times that the student predicts he will draw his favorite suit.