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 at least one of the five adults has a credit card. Does the result apply to five adult friends who are vacationing together? Why or why not?

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Expert Answer

Step 1

Define the random variable x as the number of adults having 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 (having a credit card and not having a credit card) and the probability that an adult will have a credit card (p) is 0.74. Thus, x follows a binomial distribution.

The binomial distribution formula is,

Statistics homework question answer, step 1, image 1
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Step 2

Here, “at least 1 adult having credit card” repre...

Statistics homework question answer, step 2, image 1
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