Five Percent of All Credit Card Holders Eventually Become Delinquent

question 1

Short Answer

Five percent of all credit card holders eventually become delinquent.The probability,rounded to four decimal places,that in a random sample of 21 credit card holders,exactly 3 will become delinquent is:

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Definitions:

Slave States

U.S. states prior to the Civil War where slavery was legally permitted and integral to the economy and society.

Texas Territory

A historical territorial area administered by the United States before Texas became a state in 1845.

Martin Van Buren

The eighth President of the United States (1837-1841), known for his role in the development of the American political party system.