Sports Fans Suppose That Past History Shows That 5% of College Students

question 234

Short Answer

Sports Fans
Suppose that past history shows that 5% of college students are sports fans.A sample of 10 students is to be selected. ​ ​
-{Sports Fans Narrative} Find the probability that more than 1 student is a sports fan.

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Definitions:

English Auction

A method of auctioning in which the price ascends with successive bids and remains with the highest bidder who then wins the auctioned item.

Reservation Price

The maximum price a consumer is willing to pay for a good or service, beyond which they would prefer not to make a purchase.

Expected Revenue

The amount of money a business anticipates receiving from the sale of goods or services over a certain period, based on predicted sales volume and price.

English Auction

A public sale where items are sold to the highest bidder, with bids openly increasing in value.