Question

this data represents the responses of 200 community college students. the variable is \the number of credit cards\ the students had. what is the probability that a student has at least one credit card?

number of credit cards	0	1	2	3	4	5

0.39
0.20
0.61
0.80
what is the probability that a student has at most 4 credit cards?
0.96
0.04
0.97
0.01

Explanation:

Step1: Find probability of having at least one credit - card

The probability of having at least one credit - card is equal to 1 minus the probability of having 0 credit - cards.
Let \(P(X\geq1)\) be the probability of having at least one credit - card and \(P(X = 0)\) be the probability of having 0 credit - cards.
We know that \(P(X = 0)=0.61\).
So, \(P(X\geq1)=1 - P(X = 0)\).
\(P(X\geq1)=1 - 0.61=0.39\).

Step2: Find probability of having at most 4 credit - cards

The probability of having at most 4 credit - cards is equal to 1 minus the probability of having 5 credit - cards.
Let \(P(X\leq4)\) be the probability of having at most 4 credit - cards and \(P(X = 5)\) be the probability of having 5 credit - cards.
We know that \(P(X = 5)=0.03\).
So, \(P(X\leq4)=1 - P(X = 5)\).
\(P(X\leq4)=1 - 0.03=0.97\).

Answer:

1. A. 0.39
2. C. 0.97