A bank determines that 10% of all borrowers default loans. Answer the following questions, when, in a given month, 15 loans are defaulted. Let X be the number of defaulted loans. a. What is the probability that no loans are defaulted? Show your calculations. b. What is the probability that less than two loans are defaulted? Show your calculations. c. What is the probability that more than three loans are defaulted? Show your calculations.
A bank determines that 10% of all borrowers default loans. Answer the following questions, when, in a given month, 15 loans are defaulted. Let X be the number of defaulted loans. a. What is the probability that no loans are defaulted? Show your calculations. b. What is the probability that less than two loans are defaulted? Show your calculations. c. What is the probability that more than three loans are defaulted? Show your calculations.
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 15CR
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Question
A bank determines that 10% of all borrowers default loans. Answer the following questions, when, in a given month, 15 loans are defaulted. Let X be the number of defaulted loans.
a. What is the
b. What is the probability that less than two loans are defaulted? Show your calculations.
c. What is the probability that more than three loans are defaulted? Show your calculations.
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