Answer: 0.00007
Step-by-step explanation:
The binomial distribution formula :-
P(X)=^nC_xp^x(1-p)^{n-x}, P(X) is the probability of getting success in x trials , n is total n umber of trials and p is the probbaility of getting success in each trial.
Given : The probability that the applications received for a particular credit card are accepted = 0.55
The number of applications : n= 12
Then , the probability that all will be rejected (i.e. none of them will be accepted):-
Hence, the probability that all will be rejected = 0.00007