Answer to Question #37336 in Statistics and Probability for Sean

Question

According to Statistics, in the construction sector over the period 2009-2011 averaged
920 business bankruptcies per year out of a total population of a total of 32,100 companies. these figures
considered to be representative of the construction sector (hereinafter abbreviated BA sector)
for the period from 2009 onwards. Especially assumed number of companies in the BA sector to be
constant from 2009 onward.

In the following, we assume the number of corporate bankruptcies in the BA sector during 2014, xBA to be
binomial distribution with parameters nBA and pBA.

1: Enter an estimate of pBA.
2: Enter an estimate of the expected number of bankruptcies in the BA sector during 2014.

Answer 1

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