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According to the Mortgage Bankers Association, 8% of U.S. mortgages were delinquent in 2011. A delinquent mortgage is one that has missed at least one payment but has not yet gone to foreclosure. A random sample of eight mortgages was selected. What is the probability that fewer than three of these mortgages are delinquent?

1 Answer

6 votes

Answer:

0.978899514

Explanation:

Please see attachment .

According to the Mortgage Bankers Association, 8% of U.S. mortgages were delinquent-example-1
User Aquaman
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