Assume That X Is a Binomial Random Variable with N $$P ( x \leq 55 )$$

question 44

Multiple Choice

Assume that x is a binomial random variable with n = 100 and p = 0.60. Use a normal approximation to find $$P ( x \leq 55 )$$

• A)0.4247
• B)0.1788
• C)0.1314
• D)0.3212

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Definitions:

Loss Aversion

A cognitive bias where individuals fear losses more than they value equivalent gains.

Company Retirement

Often related to the benefits or pension schemes planned for employees after they retire from a company, differing from mandatory retirement policies.

Savings Programs

Financial plans or accounts that encourage saving by offering interest or other benefits.

Neoclassical Models

Economic models based on the principles of neoclassical economics that emphasize rational behavior, supply and demand equilibrium, and the efficiency of markets.