By very carefully screening applicants, the Rural Bank of Bataan has been able to limit bad-debt losses on agricultural loans to 8%. What is the probability that at least four (4) of the five (5) applicants just approved will repay their loans?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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By very carefully screening applicants, the Rural Bank of Bataan has been able to limit bad-debt losses on agricultural loans to 8%. What is the probability that at least four (4) of the five (5) applicants just approved will repay their loans?
 
 
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