Refer to Problem 5.42. In the same time period, 25% of the consumers registering a bank account and service compliant cited “deposit and withdrawal” as the type of complaint; these are issues such as transaction holds and unauthorized transactions.
a. What is the expected value, or mean, of the binomial distribution?
b. What is the standard deviation of the binomial distribution?
c. What is the probability that none of the 20 consumers cited “deposit and withdrawal” as the type of complaint?
d. What is the probability that no more than 2 of the consumers cited “deposit and withdrawal” as the type of complaint?
e. What is the probability that 3 or more of the consumers cited “deposit and withdrawal” as the type of complaint?