Question: The default rate on government-guaranteed student loans at a certain private 4-year institution is 7 percent. The college extends 10 such loans. (a) What is

The default rate on government-guaranteed student loans at a certain private 4-year institution is 7 percent. The college extends 10 such loans.
(a) What is the probability that none of them will default?
(b) That at least three will default?
(c) What is the expected number of defaults?

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