SOLUTION: The FICO (Fair Isaac & Company) score is commonly used as a credit rating. There is a 0.002482 (probability) delinquency rate among consumers who have a FICO score above 800. If 6

Algebra ->  Probability-and-statistics -> SOLUTION: The FICO (Fair Isaac & Company) score is commonly used as a credit rating. There is a 0.002482 (probability) delinquency rate among consumers who have a FICO score above 800. If 6       Log On


   



Question 747926: The FICO (Fair Isaac & Company) score is commonly used as a credit rating. There is a 0.002482 (probability) delinquency rate among consumers who have a FICO score above 800. If 6 consumers with FICO scores above 800 are randomly selected, find the probability that at least one of them becomes delinquent.
Answer by reviewermath(1029) About Me  (Show Source):
You can put this solution on YOUR website!
probability = 1+-+%281+-+0.002482%29%5E6+=+highlight%280.0148%29