A high-frequency trading system detects that the probability of a trade execution suffering from 'micro-latency' (a delay greater than 10ms) is 0.35. Trades are analyzed in independent batches of 240.
Using a suitable approximation, estimate the probability that there are more than 80 trades with micro-latency in a single batch.
A technician monitors 3 such independent batches. Estimate the probability that there are at least 81 trades suffering from micro-latency in each of the 3 batches.
