2.the bank of wyoming reports that 7 percent of its credit card holders will default at some time in their life. the jackson branch just mailed out 12 new cards today. (a) convert the information outlined in the question regarding the number of credit card defaults into a complete probability distribution using excel. (b) what is the probability the none of the credit card holders default? (c) what is the probability that at least one card holder will default? (d) how many of these new credit card holders would you expect to default? (e) what is the expected average variation around the expected number of defaults?
