Question

Based on past experience, a bank believes that 11% of the people who receive loans will not make payments on time. The bank has recently approved 300 loans. Answer the following questions. ?(?p) = 0.11 SD(?p) = 0.018 (Round to three decimal places as needed.) b) What assumptions underlie your model? Are the conditions met? A. With reasonable assumptions about the sample, all the conditions are met. B. The 10% condition is not met. C. The randomization and success/failure conditions are not met. D. The success/failure condition is not met. E. The randomization condition is not met. F. The 10% and success/failure conditions are not met. G. The randomization and 10% conditions are not met. H. Without unreasonable assumptions, none of the conditions are met. c) What is the probability that over 14% of these clients will not make timely payments? P(?p > 0.14) = ? ? (Round to three decimal places as needed.)

          Based on past experience, a bank believes that 11% of the people who receive loans will not make payments on time. The bank has recently approved 300 loans. Answer the following questions.

?(?p) = 0.11
SD(?p) = 0.018 (Round to three decimal places as needed.)

b) What assumptions underlie your model? Are the conditions met?

A. With reasonable assumptions about the sample, all the conditions are met.
B. The 10% condition is not met.
C. The randomization and success/failure conditions are not met.
D. The success/failure condition is not met.
E. The randomization condition is not met.
F. The 10% and success/failure conditions are not met.
G. The randomization and 10% conditions are not met.
H. Without unreasonable assumptions, none of the conditions are met.

c) What is the probability that over 14% of these clients will not make timely payments?
P(?p > 0.14) = ? ? (Round to three decimal places as needed.)

Based on past experience, a bank believes that 11% of the people who receive loans will not make payments on time. The bank has recently approved 300 loans. Answer the following questions.

?(?p) = 0.11
SD(?p) = 0.018 (Round to three decimal places as needed.)

b) What assumptions underlie your model? Are the conditions met?

A. With reasonable assumptions about the sample, all the conditions are met.
B. The 10% condition is not met.
C. The randomization and success/failure conditions are not met.
D. The success/failure condition is not met.
E. The randomization condition is not met.
F. The 10% and success/failure conditions are not met.
G. The randomization and 10% conditions are not met.
H. Without unreasonable assumptions, none of the conditions are met.

c) What is the probability that over 14% of these clients will not make timely payments?
P(?p > 0.14) = ? ? (Round to three decimal places as needed.)

Added by Carolyn K.

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