Question

Four percent of the customers of a mortgage company default on their payments. A sample of five customers is selected. What is the probability that exactly two customers in the sample will default on their payments? a..9588b..0142c..2592d..7408

Answer 1

Given:

Four percent of the customers of a mortgage company default on their payments. A sample of five customers is selected.

Required:

Find the probability that exactly two customers in the sample will default on their payments.

Required:

Total number of customers = 5

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