If the NCUA charges 3.3 cents per 100 dollars insured and Credit Union M pays $5,995 in NCUA insurance premiums, approximately h
2 answers:
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We can solve this problem using the binomial distribution. A binomial distribution<span> can be thought of as a success or failure outcome in an experiment or survey that is repeated multiple times.
</span>Probability function of binomial distribution has the following form:
p represents the probability of each choice we want. k is the number of choices we want and n is the total number of choices.
In our case p=0.85, k=5 and n=6.
We can now calculate the answer:
The probability is 39%.
.
</span>Probability function of binomial distribution has the following form:
p represents the probability of each choice we want. k is the number of choices we want and n is the total number of choices.
In our case p=0.85, k=5 and n=6.
We can now calculate the answer:
The probability is 39%.
.