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(Solution Library) The manager of a retail store knows that 7% of all checks written are "hot" checks. Of the next 150 checks written at the retail store, find

Question: The manager of a retail store knows that 7% of all checks written are "hot" checks. Of the next 150 checks written at the retail store, find the following probabilities:

  1. What is the exact probability that more than 20 checks are hot?
  2. Let X be the number of the hot checks found in a random sample of 150 checks. Determine the mean ( \(\mu \) ) and standard deviation ( \(\sigma \) ) of X and then find the exact probability that X will fall within the limits of \(\mu \) ± \(2\sigma \)

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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