The City Bank of Durham has recently begun a new credit program. Customers meeting certain credit requirements
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Question:
The City Bank of Durham has recently begun a new credit program. Customers meeting certain credit requirements can obtain a credit card accepted by participating area merchants that carries a discount. Past numbers show that 25 percent of all applicants for this card are rejected. Given that credit acceptance or rejection is a Bernoulli process, out of 15 applicants, what is the probability that
(a) Exactly four will be rejected?
(b) exactly right?
(c) Fewer than three?
(d) more than five?
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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