The Gold Credit card company knows that 70% of its customers are males. The company plans to promote its credit card by selecting a random sample of 5 customers each month and offering them a free vacation.
(a) What is the probability that in a given month all five selected customers are males?
(b) What is the probability that in a given month all five selected customers are females?
(c) What is the probability that the selected sample of 5 customers includes at least female?
(d) What is the mean number of male customers who are likely to be selected in the coming month
The Gold Credit card company knows that 70% of its customers are males. The company plans to promote its credi
(a) .7 x .7 x .7 x .7 x .7 = 0.16807 16.8%
(b) .3 x .3 x .3 x .3 x .3 = 0.00243 0.24%
(c) 1 - .7 ^ 5 = .83193 = 83.2 %
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