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Records over the past year show that 1 out of 355 loans made by Mammon...

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Algebra

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Records over the past year show that 1 out of 355 loans made by Mammon Bank have defaulted. Find the probability that 5 or more out of 320 loans will default. Hint: Is it appropriate to use the Poisson approximation to the binomial distribution? (Round ? to 1 decimal place. Use 4 decimal places for your answer.)

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