A financial talk show host claims to have a 63 % success rate in his investment recommendations. You collect some data over the next few weeks, and find that out 10 recommendations, he was correct 3 times. If the claim is correct and the performance of recommendations is independent, what is the probability that you would have observed 4 or fewer successful recommendations out of 10?

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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A financial talk show host claims to have a 63 % success rate in his investment
recommendations. You collect some data over the next few weeks, and find that out
10 recommendations, he was correct 3 times. If the claim is correct and the
performance of recommendations is independent, what is the probability that you
would have observed 4 or fewer successful recommendations out of 10?
Enter answer as a percentage, accurate to two decimal places.
Transcribed Image Text:A financial talk show host claims to have a 63 % success rate in his investment recommendations. You collect some data over the next few weeks, and find that out 10 recommendations, he was correct 3 times. If the claim is correct and the performance of recommendations is independent, what is the probability that you would have observed 4 or fewer successful recommendations out of 10? Enter answer as a percentage, accurate to two decimal places.
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