Approximate the resulting binomial distribution


Use the appropriate normal distribution to approximate the resulting binomial distribution.

The manager of Madison Finance Company has estimated that, because of a recession year, 3% of its 400 loan accounts will be delinquent. If the manager's estimate is correct, what is the probability that 20 or more of the accounts will be delinquent?

Request for Solution File

Ask an Expert for Answer!!
Basic Statistics: Approximate the resulting binomial distribution
Reference No:- TGS0751147

Expected delivery within 24 Hours