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:

SEC Rule 12b-1

A regulation by the U.S. Securities and Exchange Commission that allows mutual funds to charge their shareholders for advertising and sales promotion expenses.

Marketing Expenses

Costs associated with promoting a company, product, or service, including advertising, product samples, and event sponsorships.

Fund Assets

The total value of all the securities and cash held by an investment fund.

Exchange-traded Fund

A type of investment fund and exchange-traded product, i.e., they are traded on stock exchanges. ETFs hold assets such as stocks, commodities, or bonds and generally operate with an arbitrage mechanism designed to keep it trading close to its net asset value.