The chief loan officer of La Crosse Home Mortgage Company summarized the housing loans extended by the company in 2017 according to type and term of the loan. Her list shows that 70% of the loans were fixed-rate mortgages (F), 20% were adjustable-rate mortgages (A), and 10% belong to some other category (0) (mostly second trust-deed loans and home equity loans). Of the fixed-ra mortgages, 80% were 30-year loans and 20% were 15-year loans; of the adjustable-rate mortgages, 30% were 30-year loans and 70% were 15-year loans; finally, of the other loans extended, 30 were 20-year loans, 60% were 10-year loans, and 10% were for a term of 5 years or less. (a) Draw a tree diagram representing these data. 10 20 5 10 20

The chief loan officer of La Crosse Home Mortgage Company summarized the housing loans extended by the company in 2017 according to type and term of the loan. Her list shows that 70% of the loans were fixed-rate mortgages (F), 20% were adjustable-rate mortgages (A), and 10% belong to some other category (0) (mostly second trust-deed loans and home equity loans). Of the fixed-ra mortgages, 80% were 30-year loans and 20% were 15-year loans; of the adjustable-rate mortgages, 30% were 30-year loans and 70% were 15-year loans; finally, of the other loans extended, 30 were 20-year loans, 60% were 10-year loans, and 10% were for a term of 5 years or less. (a) Draw a tree diagram representing these data. 10 20 5 10 20

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Description: The chief loan officer of La Crosse Home Mortgage Company summarized the housing loans extended by the company in 2017 according to type and term of the loan. Her list shows that 70% of theloans were fixed-rate mortgages (F), 20% were adjustable-rat

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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Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.

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Question

The chief loan officer of La Crosse Home Mortgage Company summarized the housing loans extended by the company in 2017 according to type and term of the loan. Her list shows that 70% of the
loans were fixed-rate mortgages (F), 20% were adjustable-rate mortgages (A), and 10% belong to some other category (0) (mostly second trust-deed loans and home equity loans). Of the fixed-rate
mortgages, 80% were 30-year loans and 20% were 15-year loans; of the adjustable-rate mortgages, 30% were 30-year loans and 70% were 15-year loans; finally, of the other loans extended, 30%
were 20-year loans, 60% were 10-year loans, and 10% were for a term of 5 years or less.
(a) Draw a tree diagram representing these data.
20 s 5 10
<=5 15 30
30
30
20 ca5
15
(b) What is the probability that a home loan extended by La Crosse has an adjustable rate and is for a term of 15 years?
(c) What is the probability that a home loan extended by La Crosse is for a term of 15 years?

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