Oh ok I don’t think do you want me a couple days to go back and then you can come
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>
Sorry hun but i believe you got this!!!! But multiply boo trust me
65.2 hours
