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A how many of these new cardholders would you expect to

The Bank of Hawaii reports that 7% of its credit card holders will default at some time in their life. The Hilo branch just mailed out 12 new cards today.

a. How many of these new cardholders would you expect to default? What is the stan- dard deviation?

b. What is the likelihood that none of the cardholders will default?

c. What is the likelihood at least one will default?

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Business Economics: A how many of these new cardholders would you expect to

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