Use the appropriate normal distribution to approximate the resulting binomial distribution.

The manager of Madison Finance Company has estimated that, because of a recession year, 5% of its 400 loan accounts will be delinquent. If the manager's estimate is correct, what is the probability that 27 or more of the accounts will be delinquent?

Round your answer to four decimal places, if necessary.

The probability is __________.

Question

Use the appropriate normal distribution to approximate the resulting binomial distribution.
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The manager of Madison Finance Company has estimated that, because of a recession year, 5% of its 400 loan accounts will be delinquent. If the manager's estimate is correct, what is the probability that 27 or more of the accounts will be delinquent?
​
Round your answer to four decimal places, if necessary.
​
The probability is __________.

Quizplus · Accepted Answer

The Answer of Use the appropriate normal distribution to approximate the resulting binomial distribution.
​
The manager of Madison Finance Company has estimated that, because of a recession year, 5% of its 400 loan accounts will be delinquent. If the manager's estimate is correct, what is the probability that 27 or more of the accounts will be delinquent?
​
Round your answer to four decimal places, if necessary.
​
The probability is __________.

Use the Appropriate Normal Distribution to Approximate the Resulting Binomial