Given a Binomial Random Variable with N = 15 and P

question 19

Essay

Given a binomial random variable with n = 15 and p = .40, find the exact probabilities of the following events and their normal approximations.
a.
X = 6
b.
X $\ge$ 9
c.
X $\le$ 10

---

Definitions:

Unconditional Promise

denotes a commitment or guarantee made without stipulating any conditions - the promisor must fulfill their obligation, regardless of external circumstances.

Requirements For Negotiability

The legal criteria that a document must meet to be considered negotiable, allowing it to be transferred or endorsed.

Contract Formed

The process of creating a legally binding agreement, requiring offer, acceptance, consideration, and mutual consent among parties.

Negotiable

Capable of being transferred or exchanged for value between parties, often referring to financial instruments like checks or bills of exchange.