Question
You may need to use the appropriate appendix table to answer this question. Only 0.03% of credit card holders of a company report the loss
You may need to use the appropriate appendix table to answer this question.
Only 0.03% of credit card holders of a company report the loss or theft of their credit cards each month. The company has 20,000 credit cards in the city of Memphis. Use the Poisson probability tables to answer the following questions. (Round your answers to four decimal places.)
(a)What is the probability that during the next month in the city of Memphis, no one reports the loss or theft of his or her credit cards?
(b)What is the probability that during the next month in the city of Memphis, every credit card is lost or stolen?(c)What is the probability that during the next month in the city of Memphis, six people report the loss or theft of their cards?
(d)What is the probability that during the next month in the city of Memphis, at least nine people report the loss or theft of their cards?
(e)Determine the expected number of reported lost or stolen credit cards.
(f)Determine the standard deviation for the number of reported lost or stolen cards.
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