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Statistics / Statistical Techniques in Business and Economics 15 / Chapter 6 / Problem 46

Statistical Techniques in Business and Economics | 15th Edition | ISBN: 9780073401805 | Authors: Douglas Lind, William Marchal, Samuel Wathen

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Tire and Auto Supply is considering a 2-for-1 stock split. Before the transaction is

Chapter 0, Problem 46

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QUESTION:

Tire and Auto Supply is considering a 2-for-1 stock split. Before the transaction is finalized, at least two-thirds of the 1,200 company stockholders must approve the proposal. To evaluate the likelihood the proposal will be approved, the CFO selected a sample of 18 stockholders. He contacted each and found 14 approved of the proposed split. What is the likelihood of this event, assuming two-thirds of the stockholders approve?

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QUESTION:

Tire and Auto Supply is considering a 2-for-1 stock split. Before the transaction is finalized, at least two-thirds of the 1,200 company stockholders must approve the proposal. To evaluate the likelihood the proposal will be approved, the CFO selected a sample of 18 stockholders. He contacted each and found 14 approved of the proposed split. What is the likelihood of this event, assuming two-thirds of the stockholders approve?

ANSWER:

Step 1 of 2

Given:

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