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Out of 1000 Students Questioned, 320 Only Made the Minimum

Question 51

Essay

Out of 1000 students questioned, 320 only made the minimum required credit card payment at least one time in the past year.
(a) Give an estimate of the probability of
A = [ only minimum payment at least one time in a year ]
(b) Explain your reasoning.

Correct Answer:

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(a) .32 (b) The long...

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