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:

Productive Resources

These are the inputs used to produce goods and services, typically categorized into natural resources, human resources, and capital goods.

Matrilineal And Patrilineal

Kinship systems where lineage and inheritance are traced through the mother's line (matrilineal) or the father's line (patrilineal).

Kinship Terminology System

The method by which kin relationships are identified and categorized within a culture, influencing social interactions and inheritance.

Hawaiian

Pertaining to Hawaii, its native people, culture, or language, known for its unique Polynesian heritage and diverse cultural influences.