Twenty percent of the CFA candidates have a degree in economics. A random sample of four...
Twenty percent of the CFA candidates have a degree in economics. A random sample of four CFA candidates is selected. What is the probability that at least one of them has a degree in economics?
Homework Answers
SOLUTION-
LET X BE THE NO OF CFA CANDIDATES WHO HAS A DEGREE IN ECONOMICS.
P(CANDIDATES HAVING DEGREE IN ECONOMICS) = 0.20
SIZE OF RANDOM SAMPLE (n) = 4
X ~ BINOMIAL( n=4, p=0.20)
P(X=x) = 
HENCE, P(ATLEAST ONE HAS DEGREE IN ECONOMICS)
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**REMARK**- IN CASE OF DOUBT, COMMENT BELOW. ALSO LIKE THE SOLUTION, IF POSSIBLE.
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