A Local Concert Center Reports That It Has Been Experiencing

question 39

Multiple Choice

A local concert center reports that it has been experiencing a 15% rate of no-shows on advanced reservations.Among 150 advanced reservations, find the probability that there will be fewer than 20 no-shows. Round thestandard deviation to three decimal places to work the problem.

• A) 0.2451
• B) 0.7549
• C) 0.7967
• D) 0.3187

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Definitions:

Convertible Bond

A type of bond that can be converted into a predetermined number of the issuer's equity shares at certain times during the bond's life, usually at the discretion of the bondholder.

Early Retirement

Choosing to retire before the traditional retirement age, often with eligibility for certain benefits.