Question

3. According to Cerulli Associates of Boston, 30% of all CPA financial advisors have an average
client size between $500,000 and $1 million. Thirty-four percent have an average client size
between $1 million and $5 million. Suppose a complete list of all CPA financial advisors is
available and 18 are randomly selected from that list.
I
a. What is the expected number of CPA financial advisors that have an average client size between
$500,000 and $1 million? What is the expected number with an average client size between $1
million and $5 million?
b. What is the probability that at least eight CPA financial advisors have an average client size
between $500,000 and $1 million?
c. What is the probability that two, three, or four CPA financial advisors have an average client
size between $1 million and $5 million?
d. What is the probability that none of the CPA financial advisors have an average client size
between $500,000 and $1 million? What is the probability that none have an average client size
between $1 million and $5 million? Which probability is higher and why?​

Answer 1

Answer:

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