Loans Based on past experience, a bank believes that 7%of the people who receive loans will not make paymentson time. The bank has recently approved 200 loans. a) What are the mean and standard deviation of the pro-portion of clients in this group who may not make timely payments? b) What assumptions underlie your model? Are the con-ditions met? Explain. c) What’s the probability that over 10% of these clientswill not make timely payments?

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