SOLUTION: Stats question: An IRS inspector is to select 3 corporations from a list of 15 for tax audit purposes. Of the 15 corporations, 6 earned profits and 9 incurred losses during the y

Question 1087408: Stats question: An IRS inspector is to select 3 corporations from a list of 15 for tax audit purposes. Of the 15 corporations, 6 earned profits and 9 incurred losses during the year for which the tax returns are to be audited. If the IRS inspector decide to select 3 corporations randomly, find the probability (using the Hypergeometric formula) that the number of corporations in these 3 that incurred losses during the year for which the tax returns are to be audited is
Answer by rothauserc(4718) (Show Source): You can put this solution on YOUR website!
A hypergeometric probability distribution is used when the probability of a success changes on every trial.
:
The parameters from this problem are,
:
N = 15, The number of tax returns in the population
k = 9, The number of tax returns to be audited(successes)
n = 3, The number of tax returns in the sample
x = ?, The number of tax returns in the sample that reported losses(successes)
:
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in order to determine the probability, you have to specify the value for x
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