Based on past experience, a bank believes that 6% of the people who receive loans will not make payments on time. The bank has recently approved 400 loans.a) What are the mean and standard deviation of the proportion of clients in this group who may not make paymentsb) What is the probability that at least 34 of these clients will not make timely payments? Please use normal approximation to the binomial distribution.
Based on past experience, a bank believes that 6% of the people who receive loans will not make payments on time. The bank has recently approved 400 loans.a) What are the mean and standard deviation of the proportion of clients in this group who may not make paymentsb) What is the probability that at least 34 of these clients will not make timely payments? Please use normal approximation to the binomial distribution.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Based on past experience, a bank believes that 6% of the people who receive loans will not make payments on time. The bank has recently approved 400 loans.
a) What are the
b) What is the
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