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Amiraneli [1.4K]
3 years ago
10

Assuming a binomial distribution, four percent of the customers of a mortgage company default on their payments. A sample of fiv

e customers is selected. What is the probability that at most two customers in the sample will default on their payments?
Mathematics
1 answer:
olga_2 [115]3 years ago
6 0

We will use binomial distribution in this problem.

<span>The solution would be like this for this specific problem:

</span><span>P(default) = p = 4% = 0.04 </span><span>
<span>q = 1-p = 1-0.04 = 0.96 </span>
n = 5</span>

<span>P(r) = nCr*q^(n-r)*p^r </span>

<span>Required probability = P(r=2) = 5C2*0.96^3*0.04^2 </span>

= 0.0142 OR 1.42%

 

<span>The probability that at most two customers in the sample will default on their payments is 1.42%.</span>

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11Alexandr11 [23.1K]
There are two ways you can go about this: I'll explain both ways.
<span>
</span><span>Solution 1: Using logarithmic properties
</span>The first way is to use logarithmic properties.

We can take the natural logarithm to all three terms to utilise our exponents.

Hence, ln2ᵃ = ln5ᵇ = ln10ⁿ becomes:
aln2 = bln5 = nln10.

What's so neat about ln10 is that it's ln(5·2).
Using our logarithmic rule (log(ab) = log(a) + log(b),
we can rewrite it as aln2 = bln5 = n(ln2 + ln5)

Since it's equal (given to us), we can let it all equal to another variable "c".

So, c = aln2 = bln5 = n(ln2 + ln5) and the reason why we do this, is so that we may find ln2 and ln5 respectively.

c = aln2; ln2 = \frac{c}{a}
c = bln5; ln5 = \frac{c}{b}

Hence, c = n(ln2 + ln5) = n(\frac{c}{a} + \frac{c}{b})
Factorise c outside on the right hand side.

c = cn(\frac{1}{a} + \frac{1}{b})
1 = n(\frac{1}{a} + \frac{1}{b})
\frac{1}{n} = \frac{1}{a} + \frac{1}{b}

\frac{1}{n} = \frac{a + b}{ab}
and thus, n = \frac{ab}{a + b}

<span>Solution 2: Using exponent rules
</span>In this solution, we'll be taking advantage of exponents.

So, let c = 2ᵃ = 5ᵇ = 10ⁿ
Since c = 2ᵃ, 2 = \sqrt[a]{c} = c^{\frac{1}{a}}

Then, 5 = c^{\frac{1}{b}}
and 10 = c^{\frac{1}{n}}

But, 10 = 5·2, so 10 = c^{\frac{1}{b}}·c^{\frac{1}{a}}
∴ c^{\frac{1}{n}} = c^{\frac{1}{b}}·c^{\frac{1}{a}}

\frac{1}{n} = \frac{1}{a} + \frac{1}{b}
and n = \frac{ab}{a + b}
4 0
3 years ago
Roberto tool a test that contained 25 questions. He received an 88% on the test. how many questions did he answer correctly?
iren [92.7K]
He got 22/25 questions right because

if you put X as the number of questions he got right out of 25 and equal it to 88 out of 100 you can cross multiply to get X

x/25=88/100
100x=25×88

25×88=2200
100x=2200

divide 100 on both sides
therefore
2200/100= 22

hope this helps
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3 years ago
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Answer: x² + x + 8= 0

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General for of the equation for the circle:
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