Ecobank benin has recently examined the credit card account balances of its customers and found that 20% have an outstanding balance at the credit card limit. Suppose the manager of the credit card division randomly selects 15 customers. Assume that the properties of the binomial distribution apply. What is the probability of finding 4 customers with outstanding balance at the credit card limit?  What is the probability that 3 or fewer customers in the sample will have balances at the limit of the credit card?  What is the probability that exactly 10 of the customers in the sample will have balances below the credit card?

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Ecobank benin has recently examined the credit card account balances of its customers and found that 20% have an outstanding balance at the credit card limit. Suppose the manager of the credit card division randomly selects 15 customers. Assume that the properties of the binomial distribution apply.

  1. What is the probability of finding 4 customers with outstanding balance at the credit card limit? 
  2. What is the probability that 3 or fewer customers in the sample will have balances at the limit of the credit card? 
  3. What is the probability that exactly 10 of the customers in the sample will have balances below the credit card? 

 

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