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Mathematics, 30.06.2020 16:01, blevinssam274
Fraud detection has become an indispensable tool for banks and credit card companies to combat fraudulent credit card transactions. A fraud detection firm has detected some form of fraudulent activities in 2%, and serious fraudulent activities in 0.75% of transactions. Assume that fraudulent transactions remain stable.
a. What is the probability that fewer than 2 out of 110 transactions are fraudulent?
b. What is the probability that fewer than 2 out of 105 transactions are seriously fraudulent?
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Answers: 1
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