# Question

Forty-four percent of consumers with credit cards carry balances from month to month (http://bankrate.com, February 20, 2007).

Four consumers with credit cards are randomly selected.

a. What is the probability that all consumers carry a credit card balance?

b. What is the probability that fewer than two consumers carry a credit card balance?

c. Calculate the expected value, the variance, and the standard deviation of this binomial distribution.

Four consumers with credit cards are randomly selected.

a. What is the probability that all consumers carry a credit card balance?

b. What is the probability that fewer than two consumers carry a credit card balance?

c. Calculate the expected value, the variance, and the standard deviation of this binomial distribution.

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