The manager of a Finance Company has estimated that, because of a recession year, 7% of its 550 loan accounts will be delinquent. If the manager's estimate is correct, what is the probability that exactly 45 of the accounts will be delinquent

0.03532

Step-by-step explanation:

Given : p = 0.07 , n= 550

Binomial probability distribution:

The probability that exactly 45 of the accounts will be delinquent will be :

Hence, the required probability = 0.03532

0.16 or 16%

step-by-step explanation:

lets take a coin for example.

if you toss it twice, it has a 1/4 chance of landing on heads both times because 1/2 * 1/2 is 1/4.

with the cards, the chance of picking dog is 0.4. having two people pick one is like picking a card twice in a row. so 0.4 * 0.4 is 0.16, or 16%

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