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Mensa is an organization whose membership requires an IQ in the top 2 per cent of the general population. Five hundred people are chosen randomly. (14 marks)
a. What is the probability that no more than 4 of them will qualify for membership to Mensa?
b. What is the probability that at least 8 of them will qualify for membership to Mensa?
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The MAX Corporation is planning a $4 million expansion this year. The expansion can be financed by issuing either common stock or bonds. The new common stock can be sold for $60 per share. The bonds can be issued with a 12% coupon rate. The fi..
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