Twenty Percent of the Applications Received for a Particular Position

question 53

Essay

Twenty percent of the applications received for a particular position are rejected. What is the probability that among the next fourteen applications,
a.none will be rejected?
b.all will be rejected?
c.less than 2 will be rejected?
d.more than four will be rejected?
e.Determine the expected number of rejected applications and its variance.

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Definitions:

Dissociation

The process of a member withdrawing from a partnership or a member's interest being terminated, affecting the relationship between the members of a business entity.

Manager-Managed LLC

A limited liability company where the daily operations are overseen by appointed managers rather than all members.

LLC Members

Individuals or entities that own an interest in a limited liability company and have rights and responsibilities outlined in the LLC's operating agreement.

Limited Liability Company

A corporate framework that merges the direct tax benefits of partnerships or sole proprietorships with the protective limited liability features of a corporation.