Find the probability customers pay their bill in full, Applied Statistics

Assignment Help:

The proportion of American Express credit-card holders who pay their credit card bill in full each month is 23%; the other 77% make only a partial or no payment.

(a) In a random sample of 15 customers, what is the probability that:

i. 4 customers pay their bill in full?

ii. More than 6 customers pay their bill in full?

(b) In a random sample of 17 customers, what is the probability that:

i. 4 customers pay their bill in full?

ii. No more than 3 customers pay their bill in full?


Related Discussions:- Find the probability customers pay their bill in full

Frequency distribution, Frequency distribution A frequency distribution...

Frequency distribution A frequency distribution is a series where a number of items with similar values are put in separate groups or bunches. In other words a frequency distri

Large-sample and small-sample simulations, Show that when h = h* for the h...

Show that when h = h* for the histogram, the contribution to AMISE of the IV and ISB terms is asymptotically in the ratio 2:1. Compare the sensitivity of the AMISE(ch) in Equa

Difference in goals between pca and fa, In PCA the eigknvalues must ultimat...

In PCA the eigknvalues must ultimately account for all of the variance. There is no probability,'no hypothesis, no test because strictly speaking PCA is not a statistical procedure

Mean absolute deviation, Mean Absolute Deviation To avoid the problem o...

Mean Absolute Deviation To avoid the problem of positive and negative deviations canceling out each other, we can use the Mean Absolute Deviation which is given by

Riemannian integral approximations, Investigate the use of fixed and perce...

Investigate the use of fixed and percentile meshes when applying chi squared goodness-of- t hypothesis tests. Apply the oversmoothing procedure to the LRL data. Compare the res

Atmospheric circulation and precipitation, (a) Elevation (m)...

(a) Elevation (m) 0 400 800 1200 1600 2000 2400 2800 3200 4000 480

Production took place, Scenario: To fundraise for middle school camp the ye...

Scenario: To fundraise for middle school camp the year 3 and 4 syndicate designed and produced chocolate treats to sell to the year 1 and 2, and year 5 and 6 students at morning te

Using the asymptotic distribution test the hypothesis, You are interested i...

You are interested in testing the distance of two golf balls, Brand A and Brand B. You take a random sample of 100 golfers, each of whom hits Brand A once and Brand B once. Define

Estimate a linear probability model, Estimate a linear probability model: ...

Estimate a linear probability model: Consider the multiple regression model: y = β 0 +β 1 x 1 +.....+β k x k +u Suppose that assumptions MLR.1-MLR4 hold, but not assump

calculate the test statistics, A manufacturer has received complaints that...

A manufacturer has received complaints that aging production equipment is forcing workers to work overtime in order to meet production quotas. Historically, the average hours worke

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd