Use the Appropriate Normal Distribution to Approximate the Resulting Binomial

question 151

Short Answer

Use the appropriate normal distribution to approximate the resulting binomial distribution.
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The manager of Madison Finance Company has estimated that, because of a recession year, 5% of its 400 loan accounts will be delinquent. If the manager's estimate is correct, what is the probability that 27 or more of the accounts will be delinquent?
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Round your answer to four decimal places, if necessary.
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The probability is __________.

Gain knowledge on how to treat inventory and other assets upon the admission of a new partner.

Identify the role and impact of bonuses in the adjustment of capital accounts upon the admission of new partners or liquidation.

Recognize different terms associated with partnership accounting, such as deficiency, realization, and liquidation.

Analyze the calculation of losses on realization and their distribution among partners.

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Definitions:

Phoneme

The smallest unit of sound in a language that can distinguish meaning between words.

Knowledge

Facts, information, and skills acquired through experience or education; the theoretical or practical understanding of a subject.

Connectionist Model

A theoretical approach in cognitive science that argues mental phenomena can be described by artificial neural networks or activities of interconnected nodes, simulating the way neurons work in the brain.

Letters

Written symbols or characters that are used to create words in various alphabets.