Based on past experience, a bank believes that 9 % 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%3D standard deviation (accurate to 3 decimal places) = What is the probability that over 10% of these clients will not make timely payments?

Based on past experience, a bank believes that 9 % 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%3D standard deviation (accurate to 3 decimal places) = What is the probability that over 10% of these clients will not make timely payments?

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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Question

Based on past experience, a bank believes that 9 % 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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