# Question

The default rate on government-guaranteed student loans at a certain public four-year institution is 7 percent.

(a) If 1,000 student loans are made, what is the probability of fewer than 50 defaults?

(b) More than 100? Show your work carefully.

(a) If 1,000 student loans are made, what is the probability of fewer than 50 defaults?

(b) More than 100? Show your work carefully.

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