The manager of the commercial mortgage department of a large bank has collected data during the...
The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years (107 weeks) are shown to the right.
a. Compute the expected number of mortgages approved per week.
b. Compute the standard deviation.
| Number_Approved | Frequency |
| 0 | 14 |
| 1 | 26 |
| 2 | 31 |
| 3 | 17 |
| 4 | 8 |
| 5 | 6 |
| 6 | 1 |
| 7 | 1 |
Homework Answers
The table given below ,
| Number_Approved (X) | Frequency (f) | f*X | f*X^2 |
| 0 | 14 | 0 | 0 |
| 1 | 26 | 26 | 26 |
| 2 | 31 | 62 | 124 |
| 3 | 17 | 51 | 153 |
| 4 | 8 | 32 | 128 |
| 5 | 6 | 30 | 150 |
| 6 | 1 | 6 | 36 |
| 7 | 1 | 7 | 49 |
| Total | 104 | 214 | 666 |
a. The expected number of mortgages approved per week is ,
b. The standard deviation is,
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