Delinquency rate for consumers
There is a 1% delinquency rate for consumers with credit rating scores above 800. If UMUC Credit Union provides large loans to 10 people with credit rating scores above 800, what is the probability that at least one of them become delinquent?
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There is a 1% delinquency rate for consumers with credit rating scores above 800. If UMUC Credit Union gives large loans to 10 people with credit rating scores above 800, determine the probability which at least one of them become delinquent?
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