Solved: What is the probability that the system is operational, Econometrics

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What is the probability that the system is operational

Problem

A system consists of n identical components, each of which is operational with probability P. independent of other components. The system is operational if at least K out of the n components are operational. What is the probability that the system is operational?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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