Find probability that all five cardholders will pay balance, Basic Statistics

Find probability that all five cardholders will pay balance

The American Express center of a bank in New York has found that 62 percent of cardholders pay their new monthly balance in full before the payment due date. Suppose the credit center selects five cardholders at random. What is the probability that all five cardholders will pay their new monthly balance in full before the payment due date?

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Basic Statistics: Find probability that all five cardholders will pay balance

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Basic Statistics: Find probability that all five cardholders will pay balance

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