An analyst determines that 60 percent of all U.S. pension funds hold hedge funds.
In evaluating this probability, a random sample of 10 U.S. pension funds is taken. Using the binomial probability function, , the probability (in %) that exactly 6 of the 10 firms in the sample hold hedge funds is closest to: A: 25.08 B: 27.99 C:60.00.
, the probability (in %) that exactly 6 of the 10 firms in the sample hold hedge funds is closest to:
