Provide an Appropriate Response

question 91

Essay

Provide an appropriate response.
-According to data from the American Medical Association, 10% of us are left-handed. Suppose groups of 500 people are randomly selected. Find the probability that at least 80 are left-handed. Describe the characteristics of this problem which help you to recognize that the problem is about a binomial distribution which you are to solve by estimating with the normal distribution. (Assume that you would not use a computer, a table, or the binomial probability formula.)

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Definitions:

Goodwill

An intangible asset that represents the premium paid over the fair value of the net identifiable assets of a company during an acquisition.

Initial Value Method

An accounting method used to record investments at their acquisition cost.

Noncontrolling Interest

A minority stake in a company that is not large enough to exercise control over its operations or policies.