1 exactly 4 will default 2 exactly 1 will default 3 none wi

1 - exactly 4 will default

2- exactly 1 will default

3- none will default

Solution

Given X~Binomial(n=15, p=0.06)

P(X=x)=15Cx*(0.06^x)*((1-0.06)^(15-x))

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(1) P(X=4) = 15C4*(0.06^4)*((1-0.06)^(15-4)) =0.008956618

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(2) P(X=1) = 15C1*(0.06^1)*((1-0.06)^(15-1)) = 0.3784709

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(3) P(X=0) = 15C0*(0.06^0)*((1-0.06)^(15-0)) = 0.3952918