Historically, 5 percent of a mail-order firm\'s repeat charge-account customers

Question

Historically, 5 percent of a mail-order firm's repeat charge-account customers have an incorrect current address in the firm's computer database.

(a)
What is the probability that none of the next 12 repeat customers who call will have an incorrect address? (Round your answer to 4 decimal places.)

_____ Probability


b) One customer? (Round your answer to 4 decimal places.)

______ Probability



(c) Two customers? (Round your answer to 4 decimal places.)

______ Probability



(d) Fewer than three? (Round your answer to 4 decimal places.)

______ Probability

Explanation / Answer

Historically, 5 percent of a mail-order firm’s repeat charge-account customers have an incorrect current address in the firm’s computer database. ---------------- Binomial Problem with n = 12 ; p = 0.05 ---------------- (a) What is the probability that none of the next 12 repeat customers who call will have an incorrect address? P(x= 0) = 12C0(0.05)^0(0.95)^12 = 0.54.. -------------------------------- (b) One customer? P(x= 1) = 12C1(0.05)^1(0.95)^11 = 0.34.. -------------------------------- (c) Two customers? P(x= 2) = 0.099 ------------------------ (d) Fewer than three? P(0

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