The manager for State Bank and Trust has recently examined the credit card account balances for the

Question:

The manager for State Bank and Trust has recently examined the credit card account balances for the customers of her bank and found that 20% have an outstanding balance at the credit card limit. Suppose the manager randomly selects 15 customers and finds 4 that have balances at the limit. Assume that the properties of the binomial apply.
a. What is the probability of finding 4 customers in a sample of 15 who have “maxed out” their credit cards?
b. What is the probability that 4 or fewer customers in the sample will have balances at the limit of the credit card? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...