Q1. The Bank of Hawaii estimates that 4 percent of credit card holders will be insolventat some point in their lives. The bank sent 150 new cards today.a) Calculate the expected value (average) of the number of credit card holders who cannot pay their debts?b) Calculate the standard deviation?c) Calculate the probability that all three credit card holders will not pay their debts?d) Calculate the probability that at least one of the credit card holders will not be able to pay their debts?e) Calculate the probability that at most one of the credit card holders will not be able to pay their debts?Q2. The Tool Center has four sales representatives. Below is the number of refrigerators sold in the last month,respectively.Sales RepresentativeNumber of SalesZina Craft54Jan Niles48Live Junge50Molly Camp50a) Calculate the mean for each sample, listing all possible binary samples.b) Compare the mean of the sample means with the mean of the population.c) Draw the probability distributions and compare the shape of the population distribution withthe distribution of the sample means.Q3. An average of $23.50 per purchase is made by a typical customer at Churchill's Grocery. Thestandard deviation is $5.00. Suppose the distribution of quantities purchased follows the normaldistribution. Answer the following questions for an example of 50 customers.a) What is the probability that the sample mean is at least $25.00?b) What is the probability that the sample mean is between $22.50 and $25.00?c) What limits are within 90 percent of the sample averages?Q4. In a survey of 64 randomly selected iPhone users, it was calculated that the average purchaseprice was $460 and the standard deviation $120.a) Calculate the 99 percent confidence interval for the sales average.b) What must be the sample size to estimate the mean value of the population with an errorof $10? $1. Bank of Havaii says 4 percent ol credit card holderswill beunable to pay alf debt at some point in their livespredicts it vill. The bank sent 150 new cardstoday.a) Calculate the expected value (average) of the umber of credit card holders who cannot pay their debts?b) Calculate the standard deviation?c) Calculate the probability of three caredit card holders not paying their debts?d) Calculate the probability that at least one of the credit card holders will not be able to pay their debts?e) Calculate the probability of not paying the debt of at most one of the credit card holders?02. The Tool Center has four sales representatives. Belowis thenumber of refrigerators sold in the last month, respectivelygiven.Sales ReptesentativeNumber of SalesZna Craft54Jan Niles4850Woon YoungMlly Camp50a) Calculate the mesan lor each sample, listing all possitie inary samples.b) Compare the mean of the samplemeans with the mean of the poputation c) Drawthe probability distributions and compare the shape of the population distribution withthe distribution of the sample msns53. An average ol $23.50 is shopped by a typical customer at Churchill's Grocery. The standarddeviationis $5.00, Thedistributionof quantities purchased follows the normal distribution.let's assime ArWer the following questions for an example of 50 custamers.a) What is the prohalility that the sample mesan is at lesast $25.007b) What is the prohability that the samplemeanis between $22.50 and $25.00?c) Between vhich nerves are 90 percent of the sampleaverages located?51. Inasurvey of64randonly selected iPhone users, itvais calculated that the average purchasepricevas SA60 and the standard deviation $120.a) Calculate the 99 percent confdence interval for the sales average.b) What is the number of samples to estimate the mean valtre of the poptilation with an error of $10?shottd it be?

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