What is the value of this expression? (37)^0 0 3^7 1 30^7
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Answer:
The probability that there are 2 or more fraudulent online retail orders in the sample is 0.483.
Step-by-step explanation:
We can model this with a binomial random variable, with sample size n=20 and probability of success p=0.08.
The probability of k online retail orders that turn out to be fraudulent in the sample is:
We have to calculate the probability that 2 or more online retail orders that turn out to be fraudulent. This can be calculated as:
The probability that there are 2 or more fraudulent online retail orders in the sample is 0.483.