Assume that 74% of randomly selected adults have a credit card. Assume that a group of five adults is randomly selected. If the group of five adults includes exactly 1 with a credit card, is that value of 1 significantly low

Yes, value of adults having exactly 1 credit card is significantly low.

Step-by-step explanation:

We are given that 74% of randomly selected adults have a credit card. Assume that a group of five adults is randomly selected.

And we have to check that if the group of five adults includes exactly 1 with a credit card, is that value of 1 significantly low or not.

The above situation can be represented through Binomial distribution;

where, n = number of trials (samples) taken = 5 adults

            r = number of success = exactly 1

           p = probability of success which in our question is % of adults

                 having a credit card, i.e; 74%

LET X = Number of adults having a credit card

So, it means X ~

Now, Probability that the group of five adults includes exactly 1 with a credit card is given by = P(X = 1)

                 P(X = 1)  =

                               =

                               = 0.0169

So, the probability that in a group of five adults, exactly 1 have a credit card is 0.0169 or 1.69%.

Now, for any probability value to be significantly low it must be less than 5% as it is considered very unusual or may be called it that the probability of happening of that event is very rare or low.

Since, here our probability is way less than 5% i.e. 1.69%. So we can conclude that the value of adults having exactly 1 credit card in a group of 5 is significantly very low.

55/i dont know i do it for the points

step-by-step explanation:

step-by-step explanation:

if you want to solve percent error follow these steps.

1. subtract the accepted value from the experimental value.

2. take the absolute value of step 1.

3. divide that answer by the accepted value.

4. multiply that answer by 100 and add the % symbol to express the answer as a percentage.

if you want to solve percent of change just do this.

1. work out the difference (increase) between the two numbers you are comparing.

2. divide the increase by the original number and multiply the answer by 100. if your answer is a negative number then this is a percentage decrease.

hope this : )