The Consumer Financial Protection Bureau's Consumer Response Team hears directly from consumers about the challenges they face in the marketplace , brings their concerns to the attention of financial institutions , and assists in addressing their complaints . Of the consumers who registered a bank account and service com plaint , 46 % cited " account management , " complaints related to the marketing or management of an account , as their complaint . Source : Consumer Response Annual Report , bit.ly/2x4CN5w . Consider a sample of 20 consumers who registered bank account and service complaints . Use the binomial model to answer the fol lowing questions : a . What is the expected value , or mean , of the binomial distribution ? b . What is the standard deviation of the binomial distribution ? c . What is the probability that 10 of the 20 consumers cited " account management " as the type of complaint ? d . What is the probability that no more than 5 of the consumers cited " account management " as the type of complaint ? e . What is the probability that 5 or more of the consumers cited " account management " as the type of complaint ? 5.40 The Consumer Financial Protection Bureau's ConsumerResponse Team hears directly from consumers about the challengesthey face in the marketplace, brings their concerns to the attentionof financial institutions, and assists in addressing their complaints.Of the consumers who registered a bank account and service com-plaint, 46% cited "account management," complaints related to themarketing or management of an account, as their complaint.Source: Consumer Response Annual Report, bit.ly/2x4CN5w.Consider a sample of 20 consumers who registered bank accountand service complaints. Use the binomial model to answer the fol-lowing questions:a. What is the expected value, or mean, of the binomial distribution?b. What is the standard deviation of the binomial distribution?c. What is the probability that 10 of the 20 consumers cited"account management" as the type of complaint?d. What is the probability that no more than 5 of the consumerscited "account management" as the type of complaint?e. What is the probability that 5 or more of the consumers cited"account management" as the type of complaint?

Question

The Consumer Financial Protection Bureau's Consumer Response Team hears directly from consumers about the challenges they face in the marketplace , brings their concerns to the attention of financial institutions , and assists in addressing their complaints . Of the consumers who registered a bank account and service com plaint , 46 % cited &#34; account management , &#34; complaints related to the marketing or management of an account , as their complaint . Source : Consumer Response Annual Report , bit.ly/2x4CN5w . Consider a sample of 20 consumers who registered bank account and service complaints . Use the binomial model to answer the fol lowing questions : a . What is the expected value , or mean , of the binomial distribution ? b . What is the standard deviation of the binomial distribution ? c . What is the probability that 10 of the 20 consumers cited &#34; account management &#34; as the type of complaint ? d . What is the probability that no more than 5 of the consumers cited &#34; account management &#34; as the type of complaint ? e . What is the probability that 5 or more of the consumers cited &#34; account management &#34; as the type of complaint ? 5.40 The Consumer Financial Protection Bureau's ConsumerResponse Team hears directly from consumers about the challengesthey face in the marketplace, brings their concerns to the attentionof financial institutions, and assists in addressing their complaints.Of the consumers who registered a bank account and service com-plaint, 46% cited &#34;account management,&#34; complaints related to themarketing or management of an account, as their complaint.Source: Consumer Response Annual Report, bit.ly/2x4CN5w.Consider a sample of 20 consumers who registered bank accountand service complaints. Use the binomial model to answer the fol-lowing questions:a. What is the expected value, or mean, of the binomial distribution?b. What is the standard deviation of the binomial distribution?c. What is the probability that 10 of the 20 consumers cited&#34;account management&#34; as the type of complaint?d. What is the probability that no more than 5 of the consumerscited &#34;account management&#34; as the type of complaint?e. What is the probability that 5 or more of the consumers cited&#34;account management&#34; as the type of complaint?

Accepted Answer

Let X denotes the number of consumers who cited "account management" as the type of complaint.
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