Records over the past year show that 1 out of 300 loans made by Mammon Bank...

Records over the past year show that 1 out of 300 loans made by Mammon Bank have defaulted. Find the probability that 5or more out of 320 loans will default. Hint: Is it appropriate to use the Poisson approximation to the binomial distribution? (Round λ to 1 decimal place. Use 4 decimal places for your answer.)

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milcah answered 4 weeks ago

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