To See Whether a Bank Has Enough Minority Construction Company

question 11

Multiple Choice

To see whether a bank has enough minority construction company loans, a social agency selects 31 loans to construction companies at random and finds that 4 of them are loans to minority companies. If the bank's claim that 10 of every 100 of its loans to construction companies are minority loans is true, what is the probability that 4 loans out of 31 are minority loans? Leave your answer with combination symbols. ​

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Definitions:

Deductive Reasoning

A logical process wherein a conclusion is based on the concordance of multiple premises that are generally assumed to be true.

Inductive Reasoning

A logical process in which multiple premises, all believed true or found true most of the time, are combined to obtain a specific conclusion.

Post-formal Thought

is an advanced stage of cognitive development, following Piaget's formal operational stage, characterized by complex, reflective, and contextual thinking.

Abstract

A summary of a research paper's contents, providing an overview of the study, results, and conclusions.