According to the Mortgage Bankers Association, 8% of U

question 14

Multiple Choice

According to the Mortgage Bankers Association, 8% of U.S. mortgages were delinquent last year. A delinquent mortgage is one that has missed at least one payment but has not yet gone to foreclosure. A random sample of eight mortgages was selected. What is the probability that exactly one of these mortgages is delinquent?

• A) 0.1296
• B) 0.3570
• C) 0.4926
• D) 0.6157

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