Question
The City Bank of Durham has recently begun a new credit program. Customers meeting certain credit requirements can obtain a credit card accepted by participating
The City Bank of Durham has recently begun a new credit program. Customers meeting certain credit requirements can obtain a credit card accepted by participating area merchants that carries a discount. Past numbers show that 25 percent of all applicants for this card are rejected. Given that credit acceptance or rejection is a Bernoulli process, out of 15 applicants, what is the probability that
(a) Exactly four will be rejected?
(b) exactly right?
(c) Fewer than three?
(d) more than five?
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