Four of Your Students Submitted an Entry to a Writing

question 51

Short Answer

Four of your students submitted an entry to a writing contest. A total of 24 entries were submitted. Six of the entries will move on to the next round.
A) What is the probability that all four of your students will move on to the next round?
B) How many of your students are expected to move to the next round?
C) What is the probability that fewer of your students than expected will make it to the next round than expected?
D) What is the standard deviation of the number of students expected to move on to the next round.

• A) What is the probability that all four of your students will move on to the next round?
• B) How many of your students are expected to move to the next round?
• C) What is the probability that fewer of your students than expected will make it to the next round than expected?
• D) What is the standard deviation of the number of students expected to move on to the next round.

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Definitions:

Market Leader

A company with the highest sales or market share in a particular market.

Reciprocal Dealing Agreement

An agreement between two parties where each agrees to purchase goods or services from the other, often used to strengthen business relationships.

Exclusive Dealing

An arrangement where a retailer or distributor is restricted to purchasing or selling the products of one supplier.

Wholly Owned

A company or entity that is 100% owned by another company or individual.