Standard deviation-new cardholders expect to default

Reference no: EM1319752

The Bank of Hawaii reports that 7 percent of its credit card holders will default at some time in their life. The Hilo branch just mailed out 12 new cards today.

a. How many of these new cardholders would you expect to default? What is the standard deviation?

b. What is the likelihood that none of the cardholders will default?

c. What is the likelihood at least one will default?

Reference no: EM1319752

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