Forty-Four Percent of Consumers with Credit Cards Carry Balances from Month

question 9

Multiple Choice

Forty-four percent of consumers with credit cards carry balances from month to month. Four consumers with credit cards are randomly selected. What is the probability that all consumers carry a credit card balance?

• A) 0.1015
• B) 0.0375
• C) 0.3133
• D) 0.1390

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Definitions:

Task Structure

Refers to the defined organization, clarity, and procedures of a task, including how its goals are supposed to be achieved.

Participative Leadership

A leadership style that values the input of team members and stakeholders, involving them in the decision-making process to increase engagement and ownership.

Follower Readiness

The level of a follower's competence and commitment in performing a certain task or role.

Authoritarian Leadership

A leadership style characterized by individual control over all decisions with little input from group members.