Mathematics, 03.04.2020 00:57 michael2737
Loans that are 60 days or more past due are considered seriously delinquent. The Mortgage Bankers Association reported that the rate of seriously delinquent loans has an average of 9.1% (The Wall Street Journal, August 26, 2010). Let the rate of seriously delinquent loans follow a normal distribution with a standard deviation of 0.80%
a. What is the probability that the proportion of seriously delinquent loans is above 8%?b. What is the probability that the proportion of seriously delinquent loans is between 9.5% and 10.5%?
Answers: 2
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Loans that are 60 days or more past due are considered seriously delinquent. The Mortgage Bankers As...
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