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Critical key-entry errors in the data processing operation of a large district bank occur approximately .1% of the time. If a random sample of 10,000 entries is examined, determine the following:
a. The expected number of errors
b. The probability of observing fewer than four errors
c. The probability of observing more than two errors
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The negotiation will end successfully? After 4 hours? After 8 hours? How does the precentage likelihood of a successful negotiation change over the course of time?
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