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40% of consumers believe that cash will be obsolete in the next 20 years. Assume that 8 consumers are randomly selected. Find the probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years. The probability is (Round to three decimal places as needed.)

40% of consumers believe that cash will be obsolete in the next 20 years. Assume that 8 consumers are randomly selected. Find the probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years. The probability is (Round to three decimal places as needed.)

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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40% of consumers believe that cash will be obsolete in the next 20 years. Assume that 8 consumers are randomly selected. Find the probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years. The probability is (Round to three decimal places as needed.)
Transcribed Image Text:40% of consumers believe that cash will be obsolete in the next 20 years. Assume that 8 consumers are randomly selected. Find the probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years. The probability is (Round to three decimal places as needed.)
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