A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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nensive Quiz 3 f
Recent difficult economic times have caused an increase in the foreclosure rate of home mortgages. Statistics from the Penn Bank and
Trust Company show their monthly foreclosure rate is now one loan out of every 136 loans. Last month the bank approved 300 loans.
a. How many foreclosures would you expect the bank to have last month? (Round your answer to 4 decimal places.)
Probability
11
b. What is the probability of exactly two foreclosures? (Round your answer to 4 decimal places.)
Probability
c. What is the probability of at least one foreclosure? (Round your answer to 4 decimal places.)
Probability
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Transcribed Image Text:My Blackboard Content-Blackboard Learn Saved nensive Quiz 3 f Recent difficult economic times have caused an increase in the foreclosure rate of home mortgages. Statistics from the Penn Bank and Trust Company show their monthly foreclosure rate is now one loan out of every 136 loans. Last month the bank approved 300 loans. a. How many foreclosures would you expect the bank to have last month? (Round your answer to 4 decimal places.) Probability 11 b. What is the probability of exactly two foreclosures? (Round your answer to 4 decimal places.) Probability c. What is the probability of at least one foreclosure? (Round your answer to 4 decimal places.) Probability
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