Based on a USA Today Poll, Assume That 10% of the Population

question 57

Essay

Based on a USA Today poll, assume that 10% of the population believes that college is no longer a good investment. Find the probability that among 16 randomly selected people, at
least 1 believes that college is no longer a good investment.

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Definitions:

U.S. Treasury Bills

Short-term government securities with maturities ranging from a few days to 52 weeks, sold at a discount from their face value.

Money Purchase Plan

A type of defined-contribution retirement plan in which the employer's annual contributions are fixed and determined by formula.

Flexible Spending Account Plan

A benefit plan that allows employees to set aside pre-tax dollars for eligible expenses, such as medical or dependent care expenses.