Question
The 1999 Youth and Money Survey, sponsored by the American Savings Education Council, the Employee Benefit Research Institute, and Mathew Greenwald & Associates, talked to
The 1999 Youth and Money Survey, sponsored by the American Savings Education Council, the Employee Benefit Research Institute, and Mathew Greenwald & Associates, talked to a group of students ages 6-12 about personal finance. The survey found that 33% of the students have their own credit card.
(a) In a random sample of six students, what is the probability that zero students will have their own credit card?
(b) What is the probability that at least one will have their own credit card?
(c) Calculate the expected value of the random variable
(d) Calculate the standard deviation of the random variable
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