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Answer to Question #8569 in Statistics and Probability for Meo
Question #8569
Small businesses are going bankrupt at a rate of 5.5 per week. Assuming bankruptcies occur randomly and independently what is probality that
a) less than 5 businesses go bankrupt in the next week ( must include info on the type of probality distribution used to solve the problem and parameters of the probality distribution)
b) exactly 20 businese go bankrupt in the next 4 weeks
a) less than 5 businesses go bankrupt in the next week ( must include info on the type of probality distribution used to solve the problem and parameters of the probality distribution)
b) exactly 20 businese go bankrupt in the next 4 weeks
Expert's answer
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