Find probability of no accidents in flight operations

Reference no: EM13136987

Records over the past year show that 1 out of 315 loans made by Mammon Bank have defaulted. Find the probability that 5 or more out of 300 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.)

Flying over the western states with mountainous terrain in a small aircraft is 40% riskier than flying over similar distances in flatter portions of the nation, according to a General Accounting Office study completed in response to a congressional request. The accident rate for small aircraft in the 11 mountainous western states is 3.0 accidents per 100,000 flight operations.
a) Find the probability of no accidents in 100,000 flight operations.
b) Find the probability of at least 8 accidents in 220,000 flight operations.

Reference no: EM13136987

Questions Cloud

Why is the income assigned to noncontrolling interest treat : Why is the income assigned to noncontrolling interest treated as a deduction in computing consolidated net income?

Methods for solving rational expectations models : Identify three methods for solving rational expectations models and using your chosen method, find the rational expectations solution for prices (p) and output (y).

Find required sample size in order to meet desired accuracy : The clinic estimates that the true population standard deviation is around $2,100. If the confidence level is 95%, find the required sample size in order to meet the desired accuracy.

Amount of liability for compensation : At December 31, 2009, M's unadjusted balance of liability for compensated absences was $30,000. M estimated that there were 200 vacation days available at December 31, 2009. M's employees earn an average of $150 per day. In its December 31, 2009, ..

Find probability of no accidents in flight operations : Flying over the western states with mountainous terrain in a small aircraft is 40% riskier than flying over similar distances in flatter portions of the nation. Find the probability of no accidents in 100,000 flight operations.

What bad debt expense should the company report : Atlantic Animation Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). What bad debt expense should the company report for the current period?

Personal accomplishment statement for pursuing graduate : an example of a personal accomplishment statement for pursuing graduate studies.

Statement characterizing an operating lease : Which of the following statements characterizes an operating lease?

Calculate the npv for the purchase lease without service : Trasky’s cost of capital is 14%. The tax rate is 40%. The service contract’s cost would be expensed over the 10 year period. Assume this is an operating lease. Calculate the NPV for the purchase, lease without the service contract, and lease with t..

User Account

All Pages