A brokerage survey reports that 32% of all individual investors have used a discount broker (one that does not charge the full commission). If a random sampleof 140 individual investors is taken, approximate the probability that fewer than 41 have used a discount broker. Use the normal approximation to the binomialwith a correction for continuity.Round your answer to at least three decimal places. Do not round any intermediate steps.(If necessary, consult a list of formulas.)?

Givenp=0.32n=140x~Binomial(n=140 , p=0.32)P(X=x)=(nx)×px×(1-p)n-x ; x=0,1,....,n

Answered: A brokerage survey reports that 32% of…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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