Fifty-five percent of the applications received for a particular credit card are accepted. Among the next twelve 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.
What will be an ideal response?
| a. | 0.0001 |
| b. | 0.0008 |
| c. | 0.0762 |
| d. | 0.0079 |
| e. | 6.60; 2.9700 |
Business
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