# Question

The Bank of Hawaii reports that 7% of its credit card holders will default at some time in their life. The Hilo branch just mailed out 12 new cards today.

a. How many of these new cardholders would you expect to default? What is the standard deviation?

b. What is the likelihood that none of the cardholders will default?

c. What is the likelihood at least one will default?

a. How many of these new cardholders would you expect to default? What is the standard deviation?

b. What is the likelihood that none of the cardholders will default?

c. What is the likelihood at least one will default?

## Answer to relevant Questions

Recent statistics suggest that 15% of those who visit a retail site on the World Wide Web make a purchase. A retailer wished to verify this claim. To do so, she selected a sample of 16 “hits” to her site and found that 4 ...The Internal Revenue Service is studying the category of charitable contributions. A sample of 25 returns is selected from young couples between the ages of 20 and 35 who had an adjusted gross income of more than $100,000. ...An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of two non-work-related e-mails per hour. Assume the arrival of these e-mails is approximated by the ...A uniform distribution is defined over the interval from 6 to 10.a. What are the values for a and b?b. What is the mean of this uniform distribution?c. What is the standard deviation?d. Show that the total area is 1.00.e. ...A normal population has a mean of 12.2 and a standard deviation of 2.5.a. Compute the z value associated with 14.3.b. What proportion of the population is between 12.2 and 14.3?c. What proportion of the population is less ...Post your question

0