Ms. Bergen is a loan officer at Coast Bank and Trust. From her years of experience, she estimates that the probability is 0.25 that an applicant will not be able to repay his or her installment loan. Last month she made 40 loans. What is the probability that three loans will be defaulted? What is the probability that at-least three loans will be defaulted?

at the bank of california, past data show that 8% of all credit card holders default at some time in their lives. on recent day, this bank issued 12 credit cards to new customers. find the probability that of these 12 customers, eventually a. less than 10 will default b. between 4 to 6 will default

Your insurance company has a policy to ensure personal property. Assume you have a laptop worth $2,400 and there's a 4% chance that the laptop will be lost or stolen during the next year. What would be a fair premium for the insurance? We are assuming that the insurance company earns no profit

An investment counselor calls with a hot stock tip. He believes that if the economy remains​ strong, the investment will result in a profit of ​$40,000. If the economy grows at a moderate​ pace, the investment will result in a profit of ​$10,000. ​However, if the economy goes into​ recession, the investment will result in a loss of ​$40,000. You contact an economist who believes there is a 20​% probability the economy will remain​ strong, a 70​% probability the economy will grow at a moderate​ pace, and a 10​% probability the economy will slip into recession. What is the expected profit from this​ investment?