Based on past experience, a bank believes that 13% of the people who receive loans will not make payments on time. The bank has recently approved 400 loans, which are a random representative sample. Complete parts a through c. a) What are the mean and standard deviation of the proportion of clients in this group who may not make timely payments? μ(p)=enter your response here Part 2 SD(p)=enter your response here (Round to three decimal places as needed.) Part 3 What assumptions underlie your model? Are the conditions met? A. With reasonable assumptions about the sample, all the conditions are met. B. The randomization condition is not met. C. The randomization and success/failure conditions are not met. D. The 10% condition is not met. E. The success/failure condition is not met. F. The 10% and success/failure conditions are not met. G. The randomization and 10% conditions are not met. H. Without unreasonable assumptions, none of the conditions are met. Part 4 c) What is the probability that over 15% of these clients will not make timely payments? P(p>0.15) =enter your response here (Round to three decimal places as needed.)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Part 2

SD(p)=enter your response here

(Round to three decimal places as needed.)

Part 3

What assumptions underlie your model? Are the conditions met?

A. With reasonable assumptions about the sample, all the conditions are met.

B. The randomization condition is not met.

C. The randomization and success/failure conditions are not met.

D. The 10% condition is not met.

E. The success/failure condition is not met.

F. The 10% and success/failure conditions are not met.

G. The randomization and 10% conditions are not met.

H. Without unreasonable assumptions, none of the conditions are met.

Part 4

c) What is the probability that over 15% of these clients will not make timely payments?

P(p>0.15) =enter your response here

(Round to three decimal places as needed.)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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