SOLUTION: Assume that 60% of the student loan applications are approved. Out of 10 applications. What is the probability that 8 or more are approved?
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Question 424664: Assume that 60% of the student loan applications are approved. Out of 10 applications. What is the probability that 8 or more are approved? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Assume that 60% of the student loan applications are approved. Out of 10 applications. What is the probability that 8 or more are approved?
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Binomial Problem with n= 10 and p = 0.6
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P(8<= x <=10) = 1-P(0<= x <=7) = 1-0.8327 = 0.1673
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Cheers,
Stan H.
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