Fifty-five percent of the applications received for a credit card are accepted. Among the next 12 applications,
a. what is the probability that all will be rejected?
b. what is the probability that all will be accepted?
c. what is the probability that exactly 4 will be accepted?
d. what is the probability that fewer than 3 will be accepted?
e. Determine the expected number and the variance of the accepted applications.
a. .0001
b. .0008
c. .0762
d. .0079
e. 6.60, 2.9700
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