Use the Following Information for the Next Questions

question 19

Short Answer

Use the following information for the next questions. In a survey, the rate of
heavy smokers was reported as 270 per 1000 individuals.
-If two individuals are randomly selected, find the probability that neither of them is a heavy smoker.

---

Definitions:

Check Clearing

The process by which banks settle transactions made by checks, ensuring that the funds move from the check writer's account to the recipient's.

Fractional Reserve Banking

A system in which depository institutions held reserves that are less than the amount of total deposits.

Actual Reserves

The amount of funds that a bank has on hand and in reserve accounts, which can be used to meet any withdrawal or payment demands.

Vault Cash

The physical currency a bank holds in its vault as part of its required reserves or for daily operations.