Based on past experience, a bank believes that 8 % of the people who receive loans...
Based on past experience, a bank believes that 8 % of the people who receive loans will not make payments on time. The bank has recently approved 200 loans. What assumptions must be true to be able to approximate the sampling distribution with a normal model? Assumptions: ?
What are the mean and standard deviation of this model? mean = ?
standard deviation (accurate to 3 decimal places) = ?
What is the probability that over 10% of these clients will not
make timely payments?
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Based on past experience, a bank believes that 8 % of the people
who receive loans...
Based on past experience, a bank believes that 7% of the people who receive loans will...
Based on past experience, a bank believes that 7% of the people who receive loans will not make payments on time. The bank takes a random sample of 200 recently approved loans. Find the probability that between 5% and 10% of these clients will not make timely payments. What is the 90th percentile of the sample proportions of clients who will not make timely payments. Find the quartiles of the sample proportions of clients who will not make timely payments.
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
Based on past experiences, a bank believes that 10% of the people who receive loans will...
Based on past experiences, a bank believes that 10% of the people who receive loans will not make payments on time. The bank has recently approved 250 loans. What’s the probability that over 12% of these clients will not make timely payments? Give your answer to 4 decimal places.
Based on past experience, a professor who teaches large lecture classes believes that 8 % of...
Based on past experience, a professor who teaches large lecture classes believes that 8 % of the people who attend their class do not arrive after class begins. Recently, this professor took a sample of 200 students. What assumptions must be true to be able to approximate the sampling distribution with a normal model? Assumptions: What are the mean and standard deviation of this model (accurate to 3 decimal places)? mean = standard deviation (accurate to 3 decimal places) =...
Please answer all the parts, thank you. Based on past experience, a bank believes that 12%...
Please answer all the parts, thank you.
Based on past experience, a bank believes that 12% of the people who receive loans will not make payments on time. The bank has recently approved 100 loans. Answer the following questions. a) What are the mean and standard deviation of the proportion of clients in this group who may not make timely payments? - SD (P) = (Round to three decimal places as needed.) b) What assumptions underlie your model? Are the...
A sample of 10-year-old children found that they receive the following weekly allowances: $6, $1, $2,...
A sample of 10-year-old children found that they receive the following weekly allowances: $6, $1, $2, $10, $4, $3, $9. What is the sample mean? Answer choices: $4, $5, $6, $7 114 out of 150 customers at a bank said that they prefer to use ATMs rather than going to a live teller. What is the sample proportion of bank customers who prefer to use ATMs? Answer choices: 0.68, 0.72, 0.76, 0.80 Which sample size would give the best estimate...
2) From past experience, a restaurant owner has determined that 40% of those who visit her...
2) From past experience, a restaurant owner has determined that 40% of those who visit her restaurant will spend at least $125. If 8 people will visit her restaurant tomorrow, find the probability that: (a) 4 will spend at least $125 (b) at least 7 will spend less than $125 (c) less than 7 spend at least $125 5) An applicant for a job has to take an aptitude test. Suppose that the time it takes to finish the test...
The default rate on government-guaranteed student loans at a certain public four-year institution is 8 percent...
The default rate on government-guaranteed student loans at a certain public four-year institution is 8 percent and 1,000 student loans are made at the institution. If we assume that the defaults are statistically independent across loans, the number of total defaults at the institution is a binomial random variable. However, we will approximate the binomial distribution by the standard normal distribution using the central limit theorem. Calculate the probability of 65 or fewer defaults using the central limit theorem. a....
Gentle Ben is a Morgan horse at a Colorado dude ranch. Over the past 8 weeks,...
Gentle Ben is a Morgan horse at a Colorado dude ranch. Over the past 8 weeks, a veterinarian took the following glucose readings from this horse (in mg/100 ml) 93 89 81 104 97 111 85 88 The sample mean is93.5. Let x be a random variable representing glucose readings taken from Gentle Ben. We may assume that x has a normal distribution, and we know from past experience that μ-85 mg/100 ml. t Do these data indicate that Gentle...
USA Today reported that the population mean life span of people who live in Hawaii is...
USA Today reported that the population mean life span of people who live in Hawaii is 77 years. A random sample of 20 obituary notices gave a sample mean life span of ?̅= 71.4 years and a sample standard deviation s = 20.65 years. Assuming that the life span of people in Hawaii is normally distributed, does this indicate that the population mean life span is less than 77 years? Use a 5% level of significance. a.) What is α?...
Based on past experience, a professor who teaches large lecture classes believes that 8 % of the people who attend their class do not arrive after class begins. Recently, this professor took a sample of 200 students. What assumptions must be true to be able to approximate the sampling distribution with a normal model? Assumptions: What are the mean and standard deviation of this model (accurate to 3 decimal places)? mean = standard deviation (accurate to 3 decimal places) =...
Please answer all the parts, thank you.
Based on past experience, a bank believes that 12% of the people who receive loans will not make payments on time. The bank has recently approved 100 loans. Answer the following questions. a) What are the mean and standard deviation of the proportion of clients in this group who may not make timely payments? - SD (P) = (Round to three decimal places as needed.) b) What assumptions underlie your model? Are the...
The default rate on government-guaranteed student loans at a certain public four-year institution is 8 percent and 1,000 student loans are made at the institution. If we assume that the defaults are statistically independent across loans, the number of total defaults at the institution is a binomial random variable. However, we will approximate the binomial distribution by the standard normal distribution using the central limit theorem. Calculate the probability of 65 or fewer defaults using the central limit theorem. a....
Gentle Ben is a Morgan horse at a Colorado dude ranch. Over the past 8 weeks, a veterinarian took the following glucose readings from this horse (in mg/100 ml) 93 89 81 104 97 111 85 88 The sample mean is93.5. Let x be a random variable representing glucose readings taken from Gentle Ben. We may assume that x has a normal distribution, and we know from past experience that μ-85 mg/100 ml. t Do these data indicate that Gentle...
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