Determine the probability that from random sample of 6

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Check$mart's records show that 58% of their customers pay only the minimum amount on their credit card each month.

(a). What is the probability that, from a random sample of 6 Check$mart credit-card holders, all will pay only the minimum amount?

(b). What is the probability that, from a random sample of 6 Check$mart credit-card holders, at least two will pay only the minimum amount?

(c) Why can we not work out, from the information given, the probability that a customer pays more than the minimum amount?

Reference no: EM13473060

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