[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 [Answer: [Answer: 1
[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 [Answer: [Answer: 1
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
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Please do 6-10 as they're are all part of one questions. Please show how you got your answers
![**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?**
- A) Binomial probability distribution
- B) Poisson probability distribution
- C) Uniform probability distribution
- D) Normal probability distribution
- [Answer: _____]
**7. How many of new cardholders do you expect to default?**
- A) 20%
- B) 1
- C) 2.5
- D) Unknowable
- [Answer: _____]
**8. What is the variance in the number of cardholders who default?**
- A) 1
- B) 0.2
- C) 0.4
- D) 0.8
- [Answer: _____]
**9. What is the likelihood that none of 5 cardholders will default?**
- A) 0.0793
- B) 0.2000
- C) 0.3280
- D) 0.8187
- [Answer: _____]
**10. What is the likelihood that at least one will default?**
- A) 0.2000
- B) 0.4100
- C) 0.6720
- D) 0.8187
- [Answer: _____]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4cc4fb4a-23f5-4110-9e16-75ef5a899c17%2F8988a547-10ae-4276-a12f-37b277357e49%2F25ep4tp_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?**
- A) Binomial probability distribution
- B) Poisson probability distribution
- C) Uniform probability distribution
- D) Normal probability distribution
- [Answer: _____]
**7. How many of new cardholders do you expect to default?**
- A) 20%
- B) 1
- C) 2.5
- D) Unknowable
- [Answer: _____]
**8. What is the variance in the number of cardholders who default?**
- A) 1
- B) 0.2
- C) 0.4
- D) 0.8
- [Answer: _____]
**9. What is the likelihood that none of 5 cardholders will default?**
- A) 0.0793
- B) 0.2000
- C) 0.3280
- D) 0.8187
- [Answer: _____]
**10. What is the likelihood that at least one will default?**
- A) 0.2000
- B) 0.4100
- C) 0.6720
- D) 0.8187
- [Answer: _____]
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