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From a prior national study, we are able to infer that the probability of a high school student going to college, when the parents make over $75,000 per year, is about 0.60. Assume that Toms River has 125 graduating seniors next year, and all the parents are assumed to make over $75,000. If six students are randomly selected, what is the probability that less than two of them will actually go to college?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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