A study determined 35% of Millennials in America have no credit card debt. By assuming p...

A study determined 35% of Millennials in America have no credit card debt. By assuming p = .35 is a success (no debt), if a random sample of 50 millennials was selected, find the probability that 20 of them have no debt. Use the normal distribution as an approximation to solve this binomial problem.

Compute the approximate probability using the normal distribution. (Round to 2 places).

Expert Solution

orchestra answered 1 year ago

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