[Questions 6-10] The Bank of Buffalo reports that 20% of its credit card holders default at some time in their life. The Bank mailed out 5 new cards (one card per a cardholder) yesterday. The random variable (X) is the number of credit cardholders who defaulted on a credit card payment. 6. What is the appropriate probability distribution for the random variable X? [Answer: -] A) Binomial probability distribution C) Uniform probability distribution B) Poisson probability distribution D) Normal probability distribution 1 7. How many of new cardholders do you expect to default? A) 20% B) 1 C) 2.5 D) Unknowable 8. What is the variance in the number of cardholders who default? A) 1 B) 0.2 C) 0.4 D) 0.8 9. What is the likelihood that none of 5 cardholders will default? A) 0.0793 C) 0.3280 D) 0.8187 B) 0.2000 10. What is the likelihood that at least one will default? A) 0.2000 B) 0.4100 C) 0.6720 D) 0.8187 [Answer: [Answer: [Answer: -] ] [Answer: -]

[Questions 6-10] The Bank of Buffalo reports that 20% of its credit card holders default at some time in their life. The Bank mailed out 5 new cards (one card per a cardholder) yesterday. The random variable (X) is the number of credit cardholders who defaulted on a credit card payment. 6. What is the appropriate probability distribution for the random variable X? [Answer: -] A) Binomial probability distribution C) Uniform probability distribution B) Poisson probability distribution D) Normal probability distribution 1 7. How many of new cardholders do you expect to default? A) 20% B) 1 C) 2.5 D) Unknowable 8. What is the variance in the number of cardholders who default? A) 1 B) 0.2 C) 0.4 D) 0.8 9. What is the likelihood that none of 5 cardholders will default? A) 0.0793 C) 0.3280 D) 0.8187 B) 0.2000 10. What is the likelihood that at least one will default? A) 0.2000 B) 0.4100 C) 0.6720 D) 0.8187 [Answer: [Answer: [Answer: -] ] [Answer: -]

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.3: Binomial Probability

Problem 33E: Sick leave probability that a given worker at Dyno Nutrition Will call in sick on a Monday is 004....

See similar textbooks