In 2016 Americans owed $1.3 trillion in student loans. The default rates of college student loans determine eligibilityfor colleges to receive federal student aid. According to the Department of Education, an average of 11.2% ofAmericans who had student loans defaulted on their loans. A random sample of 215 recent graduates was randomlyselected. Complete parts a through d below.THEa. What is the probability that 10% or less of this sample has defaulted on their student loans?The probability is(Round to four decimal places as needed.)

Given that p=11.2%=0.112 Sample size n =215

Answered: In 2016 Americans owed $1.3 trillion in…

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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In 2016 Americans owed $1.3 trillion in student loans. The default rates of college student loans determine eligibility for colleges to receive federal student aid. According to the Department of Education, an average of 11.2% of Americans who had student loans defaulted on their loans. A random sample of 205 recent graduates was randomly selected. Complete parts a through d below. a. What is the probability that 10% or less of this sample has defaulted on their student loans? The probability is. (Round to four decimal places as needed.) b. What is the probability that 15% or more of this sample has defaulted on their student loans? The probability is. (Round to four decimal places as needed.) c. What is the probability that between 10% and 20% of this sample has defaulted on their student loans? The probability is (Round to four decimal places as needed.) d. Suppose that 28 students from this sample defaulted on their student loans. Does this result support the claim made by the…
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