Based on past experience, it is known that 10% of emerging businesses default on loans taken from commercial banks. A loan officer randomly selects 10 emerging businesses and calculates probabilities of defaulting on loans to be paid back to commercial banks. Assuming that the number of emerging businesses that default on loans taken from commercial banks follows the binomial distribution, a) What is the probability that at most 3 of the 10 emerging businesses default on loans? (15 marks) b) What is the probability that between 3 and 5 emerging businesses default on loans taken from commercial banks? (10 marks).
