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:

Silent Authority

A form of power or influence exerted through presence or reputation rather than explicit verbal commands.

Assertiveness

The quality of being self-assured and confident without being aggressive, important for clear and effective communication.

Exchange

The act of giving one thing and receiving another, especially of the same type or value, often used in the context of social or economic transactions.

Actions Affect

refers to the impact that an individual's actions have on their feelings and emotions.