The Manager for State Bank and Trust Has Recently Examined

question 102

Multiple Choice

The manager for State Bank and Trust has recently examined the credit card account balances for the customers of her bank and found that 20% have an outstanding balance at the credit card limit. Suppose the manager randomly selects 15 customers and finds 4 that have balances at the limit. Assume that the properties of the binomial distribution apply. What is the probability of finding 4 customers in a sample of 15 who have "maxed out" their credit cards?

• A) 0.1876
• B) 0.8358
• C) 0.6482
• D) 0.3832

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