Of the 300 homeowners researched, how many people had credit scores at least 720 at the time of foreclosure? (a) 96 (b) 105 (c) 195 (d) 204

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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The city of Cleveland has been hit hard by the recent wave of foreclosures, so city authorities
decided to conduct an analysis of foreclosed properties. They rescarched 300 homeowners who
had recently foreclosed properties, and classified their mortgages based on whether they were
"regular" (c.g., conventional 30-ycar fixed rate mortgages), or "alternate" (variable or adjusting
rate mortgages). Additionally, the city categorized credit scores of these 300 homeowners at the
time of foreclosure, into the following four groups: "549 or below", "550-649", "650-719", and
"720 or above". Based on the relative frequencies of this information, the following probability
table was constructed. Use this table to answer questions 1 to 7.
<549 550 649 650 719 2720
Regular
0.02
0.28
0.32
Alternate 0.10
0.12
0.07
0.03
0.12
0.18
0.35
Transcribed Image Text:The city of Cleveland has been hit hard by the recent wave of foreclosures, so city authorities decided to conduct an analysis of foreclosed properties. They rescarched 300 homeowners who had recently foreclosed properties, and classified their mortgages based on whether they were "regular" (c.g., conventional 30-ycar fixed rate mortgages), or "alternate" (variable or adjusting rate mortgages). Additionally, the city categorized credit scores of these 300 homeowners at the time of foreclosure, into the following four groups: "549 or below", "550-649", "650-719", and "720 or above". Based on the relative frequencies of this information, the following probability table was constructed. Use this table to answer questions 1 to 7. <549 550 649 650 719 2720 Regular 0.02 0.28 0.32 Alternate 0.10 0.12 0.07 0.03 0.12 0.18 0.35
Of the 300 homeowners researched, how many people had credit scores at least 720 at the time
of foreclosure?
(a) 96
(b) 105
(c) 195
(d) 204
Transcribed Image Text:Of the 300 homeowners researched, how many people had credit scores at least 720 at the time of foreclosure? (a) 96 (b) 105 (c) 195 (d) 204
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