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Tonto Silverheels is a loan processor at the Loan Arranger, a business specializing in home refinance. Forty percent of the loan applications received by Tonto will qualify for a loan. What is the probability that for the next 20 loan applications that Tonto receives, the number qualifying for a loan is... a. 10 or fewer? b. Between 6 and 10? c. Exactly 6?

Tonto Silverheels is a loan processor at the Loan Arranger, a business specializing in home refinance. Forty percent of the loan applications received by Tonto will qualify for a loan. What is the probability that for the next 20 loan applications that Tonto receives, the number qualifying for a loan is... a. 10 or fewer? b. Between 6 and 10? c. Exactly 6?

MATLAB: An Introduction with Applications
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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Tonto Silverheels is a loan processor at the Loan Arranger, a business specializing in home refinance. Forty percent of the loan applications received by Tonto will qualify for a loan. What is the probability that for the next 20 loan applications that Tonto receives, the number qualifying for a loan is...

a. 10 or fewer?

b. Between 6 and 10?

c. Exactly 6?

d.   Tonto gets a $200 commission on each qualifying loan, what is Tonto’s expected total commission from these 20 applications?

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