Question
A consumer protectionagency's consumer response team accepts complaints related tomortgages, bank accounts andservices, private studentloans, other consumerloans, and credit reporting. Of the customers who registered
A consumer protectionagency's consumer response team accepts complaints related tomortgages, bank accounts andservices, private studentloans, other consumerloans, and credit reporting. Of the customers who registered a bank account and servicecomplaint, 30% cited"deposit andwithdrawal" as the type of complaint. Consider a sample of 21 consumers who registered bank account and service complaints. Use the binomial model to complete parts(a) through(e) below.
a. What is the expectedvalue, ormean, of the binomialdistribution?
The expected value is
nothing
.
(Type an integer or a decimal. Do notround.)
b. What is the standard deviation of the binomialdistribution?
The standard deviation is
nothing
.
(Type an integer or decimal rounded to four decimal places asneeded.)
c. What is the probability that none of the 21 consumers cited "deposit andwithdrawal" as the type ofcomplaint?
The probability is
nothing
.
(Type an integer or decimal rounded to four decimal places asneeded.)
d. What is the probability that no more than 4 of the consumers cited "deposit andwithdrawal" as the type ofcomplaint?
The probability is
nothing
.
(Type an integer or decimal rounded to four decimal places asneeded.)
e. What is the probability that 2 or more of the consumers cited "deposit andwithdrawal" as the type ofcomplaint?
The probability is
nothing
.
(Type an integer or decimal rounded to four decimal places asneeded.)
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