Only 002% of Credit Card Holders of a Company Report the the Loss

question 100

Essay

Only 0.02% of credit card holders of a company report the loss or theft of their credit cards each month. The company has 15,000 credit cards in the city of Memphis. What is the probability that during the next month in the city of Memphis
a. no one reports the loss or theft of their credit cards?
b. every credit card is lost or stolen?
c. six people report the loss or theft of their cards?
d. at least nine people report the loss or theft of their cards?
e. Determine the expected number of reported lost or stolen credit cards.
f. Determine the standard deviation for the number of reported lost or stolen cards.

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Definitions:

IQ Score

A numerical measure of a person's intelligence relative to others, typically determined by standardized tests.

Mental Age

An assessment of a child’s intellectual standing compared with that of same-age peers; determined by comparing the child’s test score with the average score for children of each chronological age.

Wechsler Adult Intelligence Scale

A standardized test designed to measure adult intelligence through various verbal and performance indicators.

Verbal Scale

A scale used to measure subjective phenomena where responses are given in words rather than numbers or graphical symbols.