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Twenty percent of undergraduate students carry credit card balances greater than $5000. Suppose 12 undergraduate students are selected randomly to be interviewed about credit card usage.

a. Is the selection of 10 students a binomial experiment? describe.
b. What is the probability that no student will have a credit card balance greater than $5000?
c. What is the probability that at least three will have a credit card balance greater than $5000?
d. What is the probability that at no more than seven will have a credit card balance greater than $5000?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9104002

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