Twenty-Six Percent of People in the United States with Internet

question 83

Essay

Twenty-six percent of people in the United States with Internet access go online to get news. A random
sample of five Americans with Internet access is selected and asked if they get the news online. Identify the
values of n, p, and q, and list the possible values of the random variable x.

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Definitions:

Compounded Monthly

A method where the interest is calculated on a monthly basis and added to the principal sum, allowing the interest to grow over time through compounding.

Quarterly Payments

Payments that are made four times a year, often on a financial obligation like a loan or lease.

Withdraw

Withdrawing money from a bank account or an investment.

Monthly Compounded

Interest that is calculated on the principal and previously earned interest once every month.