SOLUTION: In 2007-2008, 34% of all undergraduates took out a Federal Stafford Loan. If a random sample of 250 students is selected, find the probability that at most 75 took out a Federal St
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Question 484400: In 2007-2008, 34% of all undergraduates took out a Federal Stafford Loan. If a random sample of 250 students is selected, find the probability that at most 75 took out a Federal Stafford Loan.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
In 2007-2008, 34% of all undergraduates took out a Federal Stafford Loan. If a random sample of 250 students is selected, find the probability that at most 75 took out a Federal Stafford Loan.
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Binomial Problem with n = 250 and p = 0.34
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P(0 <= x <=75) = binomcdf(250,0.34,75) = 0.1015
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Cheers,
Stan H.
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