Based on past experience, a bank believes that 4% of the people who receive loans will...
Based on past experience, a bank believes that 4% of the people who receive loans will not make payments on time. The bank has recently approved 300 loans. 6% of these clients did not make timely payments. What is p̂?
a. 0.04
b. 0.96
c. 0.06
d. 0.94
Homework Answers
Solution
given that
Given that,
p = 0.04
answer =p =4% = 0.04
correct answer A)0.04
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