Use the Appropriate Normal Distribution to Approximate the Resulting Binomial

question 104

Multiple Choice

Use the appropriate normal distribution to approximate the resulting binomial distribution. Colorado Mining and Mineral has 800 employees engaged in its mining operations. It has been estimated that the probability of a worker meeting with an accident during a 1-year period is .1. What is the probability that more than 80 workers will meet with an accident during the 1-year period?

• A) The probability is 0.4669.
• B) The probability is 0.4684.
• C) The probability is 0.4761.
• D) The probability is 0.8491.

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Definitions:

Major Considerations

The key factors or important aspects that need to be carefully thought about or taken into account in decision-making processes.

Tangible Asset

An asset with physical form and value, such as machinery, buildings, or land.

Goodwill

An intangible asset that arises when a business is acquired for more than the sum of its fair value of identifiable assets and liabilities, representing items like reputation or brand value.

Franchisor

The parent company that develops a product or business process and sells the rights to franchisees.