(b) At the Bank of California, past data show that 8% of all credit card holders default atsome time in their lives. On one recent day, this bank issued 12 credit cards to newcustomers. Find the probability that of these 12 customers, eventuallyiExactly 3 will defaultiiExactly 1 will defaultNone will default

Given,n=12p=0.08A random variable X~Binomial(n=12 , p=0.08)P(X=x)=12x 0.08x 1-0.0812-x ;…

Answered: (b) At the Bank of California, past…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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