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 400 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 conditions met? O A. With reasonable assumptions about the sample, all the conditions are met. O B. The 10% condition is not met. OC. The success/failure condition is not met O D. The randomization condition is not met. O E. The randomization and success/failure conditions are not met. OF. The randomization and 10% conditions are not met. O G. The 10% and success/failure conditions are not met. O H. Without unreasonable assumptions, none of the conditions are met. c) What is the probability that over 13% of these clients will not make timely payments? Click to select your answer(s).

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Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.