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In Hannah's School, There Are 871 Students of Which 21

question 71

Essay

In Hannah's school, there are 871 students of which 21% come from single-parent families.
Consider the probability that among 80 randomly selected students there are at least 20 that come from single-parent families. Can this probability be found by using the binomial probability formula? Why or why not?

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Definitions:

Perpetuity

A type of annuity that pays a fixed amount of money to an investor at regular intervals indefinitely.

Present Value

Present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return, reflecting the time value of money.

Present Value

The value today of a future money sum or cash flow stream, determined by a specified return rate.

Cash Flows

The comprehensive sum of cash being moved into and away from a business, critically impacting its financial agility.

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