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QUESTION
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...
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.
How many of these new cardholders would you expect to default? What is the standard deviation? (Round your Mean value to 2 decimal places and Standard Deviation value to 4 decimal places.)
