The Bank of Hawaii reports that 7% of its credit card holders will default at some time in theirlife. 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 standarddeviation?b. What is the likelihood that none of the cardholders will default?C.What is the likelihood at least one will default?

Givenp=7%=0.07n=12x~Binomial(n=12,p=0.07)P(X=x)=(nx)×px×(1-p)n-x ; x=0,1,.....,n

Answered: The Bank of Hawaii reports that 7% of…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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