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StatisticsQ&A LibraryIn Exercises 1–5, assume that 74% of randomly selected adults have a credit card (based on results from an AARP Bulletin survey). Assume that a group of five adults is randomly selected.Credit Cards Find the probability that exactly three of the five adults have credit cards.Question

Asked Jan 9, 2020

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In Exercises 1–5, assume that 74% of randomly selected adults have a credit card (based on results from an AARP Bulletin survey). Assume that a group of five adults is randomly selected.

Credit Cards Find the probability that exactly three of the five adults have credit cards.

Step 1

Define the random variable *x* as the number of adults who have credit card. Here, the number of adults chosen (*n*) is 5 and each of them is independent of the other. Also, there are two possible outcomes (have a credit c...

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