Refer to Exercise 4 27 A more detailed examination of the
Refer to Exercise 4.27. A more detailed examination of the company records indicates that 95% of the customers who pay one monthly bill in full will also pay the next monthly bill in full; only 10% of those who pay less than the full amount one month will pay in full the next month.
a. Find the probability that a customer selected at random will pay two consecutive months in full. b. Find the probability that a customer selected at random will pay neither of two con­secutive months in full.
c. Find the probability that a customer chosen at random will pay exactly one month in full.
In exercise
The utility company in a large metropolitan area finds that 70% of its customers pay a given monthly bill in full.
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Bsc Statistics
M.Sc. (Statistics)