A credit card company has a 80% default rate on its accounts. What is the probability that exactly 2 out of 4 randomly selected accounts will default? (Enter your answer to two decimal places. For "0.18", you would write 0.18). Do not round. Important: Use the maximum number of decimals in all your intermediate computations.

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
Problem 8P
icon
Related questions
Question
Hand written solutions are strictly prohibited.
A credit card company has a 80% default rate on its accounts. What is the probability that exactly 2
out of 4 randomly selected accounts will default?
(Enter your answer to two decimal places. For "0.18", you would write 0.18). Do not round.
Important: Use the maximum number of decimals in all your intermediate computations.
Transcribed Image Text:A credit card company has a 80% default rate on its accounts. What is the probability that exactly 2 out of 4 randomly selected accounts will default? (Enter your answer to two decimal places. For "0.18", you would write 0.18). Do not round. Important: Use the maximum number of decimals in all your intermediate computations.
Expert Solution
steps

Step by step

Solved in 3 steps with 6 images

Blurred answer
Recommended textbooks for you
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL