Topics t the APPLICATIONS Business and Economics Management The survey discussed

Question

Topics t the APPLICATIONS Business and Economics Management The survey discussed in Example 3 also that customers are charged incorrectly for 1 out items, on average. Suppose a customer purchases 15 it the following probabilities. of every ems, 30 items. Find 20. A customer is charged incorrectly on 3 items. 21. A customer is not charged incorrectly for any iterm. 22 A cusomeris charged incoreety on at least one item. 23. A customer is charged incorrectly on at least 2 items. 24. A customer is charged incorrectly on at most 2 items. Credit Cards A survey of consumer finance found that 25.4% of credit-card-holding families hardly ever pay off the Suppose a random sample of 20 credit-card-holding fami is taken. Find the probabilities of each of the following resuls Source: Statistical Abstract of the United States. the balance. 25. Exactly 6 families hardly ever pay off the balance. 26. Exactly 9 families hardly ever pay off the balance. 27. At least 4 families hardly ever pay off the balance. 28. At most 5 families hardly ever pay off the balance. no- Quality Control f

Explanation / Answer

21) customers are charged incorrectly with probability 1/30

n = 15

X is the number of times charged incorrectly

P(X = 0) = (1-p)^n = (29/30)^15

=0.60138300

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