[Questions 6-10] The Bank of Buffalo reports that 20% of its credit card holders default at some time in their life. The Bank mailed out 5 new cards (one card per a cardholder) yesterday. The random variable (X) is the number of credit cardholders who defaulted on a credit card payment. 6. What is the appropriate probability distribution for the random variable X? [Answer: -] A) Binomial probability distribution C) Uniform probability distribution B) Poisson probability distribution D) Normal probability distribution 1 7. How many of new cardholders do you expect to default? A) 20% B) 1 C) 2.5 D) Unknowable 8. What is the variance in the number of cardholders who default? A) 1 B) 0.2 C) 0.4 D) 0.8 9. What is the likelihood that none of 5 cardholders will default? A) 0.0793 C) 0.3280 D) 0.8187 B) 0.2000 10. What is the likelihood that at least one will default? A) 0.2000 B) 0.4100 C) 0.6720 D) 0.8187 [Answer: [Answer: [Answer: -] ] [Answer: -]
[Questions 6-10] The Bank of Buffalo reports that 20% of its credit card holders default at some time in their life. The Bank mailed out 5 new cards (one card per a cardholder) yesterday. The random variable (X) is the number of credit cardholders who defaulted on a credit card payment. 6. What is the appropriate probability distribution for the random variable X? [Answer: -] A) Binomial probability distribution C) Uniform probability distribution B) Poisson probability distribution D) Normal probability distribution 1 7. How many of new cardholders do you expect to default? A) 20% B) 1 C) 2.5 D) Unknowable 8. What is the variance in the number of cardholders who default? A) 1 B) 0.2 C) 0.4 D) 0.8 9. What is the likelihood that none of 5 cardholders will default? A) 0.0793 C) 0.3280 D) 0.8187 B) 0.2000 10. What is the likelihood that at least one will default? A) 0.2000 B) 0.4100 C) 0.6720 D) 0.8187 [Answer: [Answer: [Answer: -] ] [Answer: -]
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Please show your steps and do 9 and 10.
![[Questions 6-10] The Bank of Buffalo reports that 20% of its credit card holders default at
some time in their life. The Bank mailed out 5 new cards (one card per a cardholder) yesterday.
The random variable (X) is the number of credit cardholders who defaulted on a credit card
payment.
6. What is the appropriate probability distribution for the random variable X? [Answer: ]
A) Binomial probability distribution
C) Uniform probability distribution
B) Poisson probability distribution
D) Normal probability distribution
1
7. How many of new cardholders do you expect to default?
A) 20%
B) 1
C) 2.5
D) Unknowable
8. What is the variance in the number of cardholders who default?
A) 1 B) 0.2 C) 0.4 D) 0.8
9. What is the likelihood that none of 5 cardholders will default?
A) 0.0793 B) 0.2000 C) 0.3280 D) 0.8187
10. What is the likelihood that at least one will default?
A) 0.2000
B) 0.4100
C) 0.6720
D) 0.8187
[Answer:
[Answer:
[Answer:
[Answer:
-]
-]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4cc4fb4a-23f5-4110-9e16-75ef5a899c17%2F236c1a34-7555-478c-8ffc-8e813a58366b%2Fsng4458_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[Questions 6-10] The Bank of Buffalo reports that 20% of its credit card holders default at
some time in their life. The Bank mailed out 5 new cards (one card per a cardholder) yesterday.
The random variable (X) is the number of credit cardholders who defaulted on a credit card
payment.
6. What is the appropriate probability distribution for the random variable X? [Answer: ]
A) Binomial probability distribution
C) Uniform probability distribution
B) Poisson probability distribution
D) Normal probability distribution
1
7. How many of new cardholders do you expect to default?
A) 20%
B) 1
C) 2.5
D) Unknowable
8. What is the variance in the number of cardholders who default?
A) 1 B) 0.2 C) 0.4 D) 0.8
9. What is the likelihood that none of 5 cardholders will default?
A) 0.0793 B) 0.2000 C) 0.3280 D) 0.8187
10. What is the likelihood that at least one will default?
A) 0.2000
B) 0.4100
C) 0.6720
D) 0.8187
[Answer:
[Answer:
[Answer:
[Answer:
-]
-]
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