Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a general equity unit trust fund will perform better than the overall JSE share index over any one-year period. Seven general equity unit trust funds are randomly selected from general equity unit trust funds. What is the probability that at most two of these general equity trust funds performed better than the overall JSE share index over the past year (rounded off to three decimals)?
Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a general equity unit trust fund will perform better than the overall JSE share index over any one-year period. Seven general equity unit trust funds are randomly selected from general equity unit trust funds. What is the probability that at most two of these general equity trust funds performed better than the overall JSE share index over the past year (rounded off to three decimals)?
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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Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a general equity unit trust fund will perform better than the overall JSE share index over any one-year period. Seven general equity unit trust funds are randomly selected from general equity unit trust funds. What is the probability that at most two of these general equity trust funds performed better than the overall JSE share index over the past year (rounded off to three decimals)?
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