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Answer:
a
b
Step-by-step explanation:
From the question we are told that
The proportion that has outstanding balance is p = 0.20
The sample size is n = 15
Given that the properties of the binomial distribution apply, for a randomly selected number(X) of credit card
Generally the probability of finding 4 customers in a sample of 15 who have "maxed out" their credit cards is mathematically represented as
=>
Here C stand for combination
=>
Generally the probability that 4 or fewer customers in the sample will have balances at the limit of the credit card is mathematically represented as
=>