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Analysts estimate that by 2024, consumers will be spending around ____ in digital transactions. $1.8 billion $180 million $1.8 trillion $180 billion 

          Analysts estimate that by 2024, consumers will be spending around ____ in digital transactions.
$1.8 billion
$180 million
$1.8 trillion
$180 billion
Analysts estimate that by 2024, consumers will be spending around in digital transactions. 1.8 billion180 million 1.8 trillion180 billion

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Principles of Economics
Principles of Economics
Gregory Mankiw 8th Edition
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Analysts estimate that by 2024 , consumers will be spending around transactions. in digital $1.8 billion $180 million $1.8 trillion $180 billion Analysts estimate that by 2024, consumers will be spending around transactions. in digital $1.8 billion $180 million $1.8 trillion $180 billion
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Transcript

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00:01 Alright, so the question here says that 40 % of consumers believe that cash will be obsolete in the next 20 years.
00:08 So, assume that 6 consumers are randomly selected.
00:12 So, find the probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years.
00:18 So, here the probability of success is 0 .40 and this is a binomial distribution.
00:24 So, the formula to compute the probability, this is equal to ncx into p to the power x into 1 minus p to the power n minus x, right.
00:34 So, in this question, we will be computing the probability for x is less than 3...
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