Question

Historically, 79% of credit card users carry a balance from month-to-month. A certain credit card company would like to study the spending patterns of its cardholders in more detail and to start the analysis, takes a random sample of 142 cardholders. What is the probability more than 75% of these cardholders are carrying a balance?
(Use 4 decimals.)

Answer 1

Answer:

Historically, 79% of credit card users carry a balance from month-to-month. A certain credit card company would like to study the spending patterns of its cardholders in more detail and to start the analysis, takes a random sample of 142 cardholders. What is the probability more than 75% of these cardholders are carrying a balance?

(Use 4 decimals.)