Approved of the proposed split

Tire and Auto Supply is considering a 2-for-1 stock split. Before the transaction is finalized, at least two-thirds of the 1,200 company stockholders must approve the proposal. To evaluate the likelihood the proposal will be approved, the CFO selected a sample of 18 stockholders. He contacted each and found 14 approved of the proposed split.

What is the likelihood of this event, assuming two-thirds (.6667) of the stockholders approve?

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Basic Statistics: Approved of the proposed split
Reference No:- TGS0753014

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