Mathematics, 08.04.2021 22:20, Angeldelissa

In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities. It is known that 75% of all new products introduced in grocery stores fail (are taken off the market) within 2 years. If a grocery store chain introduces 60 new products, find the following probabilities. a. within 2 years 47 or more fail
b. within 2 years 58 or fewer fail
c. within 2 years 15 or more succeed
d. within 2 years fewer than 10 succeed

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In the following problem, check that it is appropriate to use the normal approximation to the binomi...