Find poisson approximations to the probabilities
Find Poisson approximations to the probabilities of the following events in 500 indepen- dent trials with probability 0.02 of success in every trial: 1) 1 success; 2) 2 or fewer successes; 3) strictly more than 3 successes.
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You thoroughly mix together two standard decks of 52 cards (so you have now a big deck of 104 cards). You randomly draw 2 cards from this big deck. What's the probability that the sum of the 2 cards is 7?
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Find Poisson approximations to the probabilities of the following events in 500 independent trials with probability 0.02 of success in every trial 1 success.
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You are planning to buy a house. If you pay 20% down payment, a lender offers you a 20 year balloon mortgage for the remaining 80% with 5.9% APR whereby you can pay interest only for the first 5 years of the loan.
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