A recent study suggested that, of all current credit users of 100,000, 6.5% either paid no penalty

Question:

A recent study suggested that, of all current credit users of €100,000, 6.5% either paid no penalty interest rate or paid an effective rate of less than 12%. A random sample of 100 of those reporting credit in excess of €100,000 was taken. What is the probability that more than two of the sample credit users either paid no penalty interest or paid penalty interest of less than 10%?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Statistics For Business And Economics

ISBN: 9781292315034

9th Global Edition

Authors: Paul Newbold, William Carlson, Betty Thorne

Question Posted: