According to the Mortgage Bankers Association, 8% of U

Multiple Choice

According to the Mortgage Bankers Association, 8% of U.S. mortgages were delinquent last year. A delinquent mortgage is one that has missed at least one payment but has not yet gone to foreclosure. A random sample of eight mortgages was selected. What is the probability that fewer than three of these mortgages are delinquent?

A) 0.7018
B) 0.7583
C) 0.9789
D) 0.8225