Let X Be a Binomial Random Variable with N = $\le$

question 129

Short Answer

Let X be a binomial random variable with n = 100 and p = 0.7.Approximate the following probabilities, using the normal distribution.
a.
P(X = 75)
b.
P(X $\le$ 70)
c.
P(X > 70)

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Definitions:

Unsecured Bond

A bond not backed by collateral, relying on the issuer's creditworthiness.

Indenture

A formal legal agreement, contract, or document between two parties, especially one detailing the terms and conditions of a bond or debenture.

Debenture

A type of debt instrument that is not secured by physical assets or collateral but is backed only by the general creditworthiness and reputation of the issuer.

Mortgage Bond

A bond secured by real estate.