Online Bankers an Official from the Securities Commission Estimates That 75% of That

question 108

Short Answer

Online Bankers
An official from the securities commission estimates that 75% of all online bankers have profited from the use of insider information.Assume that 15 online bankers are selected at random from the commission's registry. ​ ​
-{Online Bankers Narrative} Find the probability that at most 10 have profited from insider information.

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Definitions:

Depositor

An individual or entity that places money into a bank account, trusting the bank for safekeeping and potentially earning interest.

Teller's Check

A check drawn by a bank on its own funds and signed by a teller, representing a guarantee of payment, often used in transactions requiring secure funds.

Drawer

The party in a transaction who writes a check or draft, instructing the bank to pay a specified amount of money from the drawer's account.

Drawee

A drawee is the party directed by the depositor to pay a certain amount to the person presenting the check or draft.