A credit card company has a 80% default rate on its accounts. What is the probability that exactly 2 out of 4 randomly selected accounts will default? (Enter your answer to two decimal places. For "0.18", you would write 0.18). Do not round. Important: Use the maximum number of decimals in all your intermediate computations.

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A credit card company has a 80% default rate on its accounts. What is the probability that exactly 2
out of 4 randomly selected accounts will default?
(Enter your answer to two decimal places. For "0.18", you would write 0.18). Do not round.
Important: Use the maximum number of decimals in all your intermediate computations.
Transcribed Image Text:A credit card company has a 80% default rate on its accounts. What is the probability that exactly 2 out of 4 randomly selected accounts will default? (Enter your answer to two decimal places. For "0.18", you would write 0.18). Do not round. Important: Use the maximum number of decimals in all your intermediate computations.
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