THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING

question 205

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING:
A recent survey found that 40% of all air traffic controllers found their job extremely stressful.Suppose 12 air traffic controllers are selected at random.
-What is the probability that exactly 5 of them consider their job extremely stressful?

• A)0.241
• B)0.213
• C)0.227
• D)0.232

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Definitions:

Compounded Monthly

A method of calculating interest where the accumulated interest is added to the principal sum each month, leading to an increase in the amount of subsequent interest accrued.

Financing

The process of providing funds for business activities, making purchases, or investing.

Nominal Rate

The stated or named interest rate on a loan or investment, not accounting for compounding or inflation.

Quarterly Deposits

funds that are added to an account or investment four times a year.