According to Bureau of Labor Statistics, 26

question 88

Multiple Choice

According to Bureau of Labor Statistics, 26.0% of the total part- time workforce in the U.S. was between the ages of 25 and 34 during a recent month. A random sample of 90 part- time employees was selected during this quarter. Using the normal approximation to the binomial distribution, what is the probability that more than 27 people from this sample were between the ages of 25 and 34?

• A)0.3034
• B)0.1611
• C)0.1025
• D)0.0668

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Definitions:

Interest on Interest

Earnings from reinvesting the interest received from an investment, leading to exponential growth over time.

Annually

Concerning an event that takes place annually.

Simple Interest

Interest calculated only on the principal amount, or on that portion of the principal amount that remains unpaid, not including interest on interest.

Rate of Interest

The percentage of principal charged by the lender for the use of its money.