The Bank of Hawaii reports that 7% of its credit card holders will default at some time in their life. The Hilo branch just mailed out 12 new cards today. a. How many of these new cardholders would you expect to default? What is the standard deviation? b. What is the likelihood that none of the cardholders will default? c. What is the likelihood at least one will default?

The rent for a one-bedroom apartment in Wooster is a normally distributed random variable with a mean of $500 and a standard deviation of $50. a. What is the probability that the rent for a one-bedroom apartment will be between $460 and $540? b. Determine the maximum rent of the lowest 20% of all apartments. c. If the rents for 1000 one-bedroom apartments are at least $510, how many one-bedroom apartments are in Wooster?

1. Government data shows that 11% of the population is victimized by property crime each year.  A random sample of 408 older citizens (ages 65+) shows a victimization rate of 15%.  Are older people more likely to be victimized?   a. State the null and research hypotheses.   b. Calculate the test statistic.   c. What do you decide?  Why?

4. An IT department at a small business has 9 laptop computers and 18 desktop computers. The research group is allocated twelve computers. a. What is the probability that the research department will obtain exactly 8 laptops? b. What is the expected value of the distribution of the number of laptops obtained? c. What is the variance of the distribution of the number of laptops obtained?