Three Percent of the Customers of a Mortgage Company Default

question 23

Multiple Choice

Three percent of the customers of a mortgage company default on their payments. A sample of five customers is selected. What is the probability that exactly two customers in the sample will default on their payments?

• A) 0.0003
• B) 0.0082
• C) 0.0077
• D) 0.0008

Analyze the role of health care price controls and market mechanisms as strategies for managing healthcare systems.

Understand the effects of subsidies and third-party payments on healthcare prices and consumer incentive to economize.

Analyze the impact of demographic shifts, such as the baby boom generation entering retirement, on Medicare and healthcare demand.

Recognize the role of third-party coverage in the growth of healthcare expenditures and the strategies to control healthcare costs.

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Definitions:

Coaxial

A type of cable with an inner conductor surrounded by a tubular insulating layer, typically used for transmitting television, internet, and other data signals.

Fiber-Optic

Technology that uses thin strands of glass or plastic fibers to transmit data as pulses of light, offering high-speed data transmission over long distances.

Secure Cable

Wiring or cabling systems designed to protect data transmission from interception, interference, or theft.

Coaxial

A type of cable that transmits data and signals, characterized by its concentric layers of conductors and insulating material.