Fifty-Five Percent of the Applications Received for a Particular Credit

question 37

Essay

Fifty-five percent of the applications received for a particular credit card are accepted. Among the next twelve applications,
a.what is the probability that all will be rejected?
b.what is the probability that all will be accepted?
c.what is the probability that exactly 4 will be accepted?
d.what is the probability that fewer than 3 will be accepted?
e.Determine the expected number and the variance of the accepted applications.

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Definitions:

Disposition

The final arrangement or handling of a deceased person's body, such as burial, cremation, or donation to science.

Decedent's Estate

The legal term referring to the property, assets, and liabilities left behind by an individual after death.

Living Will

A legal document specifying a person's wishes regarding medical treatment in circumstances where they are no longer able to make decisions due to illness or incapacity.

Medical Intervention

A set of actions taken by health care professionals to improve, maintain, or assess the health status of a patient.