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OpenStudy (anonymous):
Bev is a loan officer at a privately owned bank. From years of experience, Bev knows that 88% of auto loan applications are approvable. Bev has recently received 12 auto loan applications that she must examine. (a) What is the probability that all 12 applications are approvable? Round your answer to four decimal places. (b) What is the probability that at least one application must be rejected? Round your answer to four decimal places.
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