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A recent study suggested that 70% of all eligible voters will vote in the next presidential election. Suppose 20 eligible voters were randomly selected from the population of all eligible voters.
Which of the following is necessary for this problem to be analyzed using the binomial random
Variable?
I. There are two outcomes possible for each of the 20 voters sampled.
II. The outcomes of the 20 voters must be considered independent of one another.
III. The probability a voter will actually vote is 0.70, the probability they wonʹt is 0.30.
Net Income
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Contingent Liabilities
Contingent liabilities are potential liabilities that may arise depending on the outcome of a future event.
Natural Disasters
Severe and sudden natural events caused by environmental factors that can result in substantial damage and pose significant risks to life, property, and economic stability.
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