[Solution Library] It is known that 30 \% of all holders of a major national credit card pay their bills in full before any interest charges are incurred. Use
Question: It is known that \(30 \%\) of all holders of a major national credit card pay their bills in full before any interest charges are incurred. Use the normal approximation to the binomial distribution to answer the following questions for a group of 150 card holders.
- What is the probability that between 40 and 60 consumers pay their account balances before any interest charges are incurred? That is, find \(\operatorname{Pr}(40 \leq x \leq 60)\)
- What is the probability that 30 or fewer customers pay their account balanced before any interest charges are incurred?
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