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Statistical Techniques in Business and Economics | 15th Edition | ISBN: 9780073401805 | Authors: Douglas Lind, William Marchal, Samuel Wathen
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The Bank of Hawaii reports that 7 percent of its credit card holders will default at

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QUESTION:

The Bank of Hawaii reports that 7 percent 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?

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QUESTION:

The Bank of Hawaii reports that 7 percent 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?

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

Probability that a credit card holder will default is,  or

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