Based on experience, the manager of a credit card company reports that three out of every ten credit card applications are disapproved. Use the normal approximation to determine the probability that at most 50 of 200 new credit applications will be rejected.

Question

Based on experience, the manager of a credit card company reports that three out of every ten credit card applications are disapproved.  Use the normal approximation to determine the probability that at most 50 of 200 new credit applications will be rejected.

Damon · Answer

use normal dist with sigma = 1, mean = 0.3 area below 50/200 = 0.25, http://davidmlane.com/hyperstat/z_table.html I get 0.48

Angel · Answer

How??? Solution and explanation pleaseeeee

Damon · Answer

Hey, plug and chug. I already took the course. It is your turn to learn how.