Based on past experience, a bank believes that12%of the people who receive loans will not make payments on time. The bank has recently approved100loans. Answer the following questions.a) What are the mean and standard deviation of the proportion of clients in this group who may not make timely payments? μp=nothing SDp=nothing(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 randomization condition is not met. C.The 10% and success/failure conditions are not met. D.The randomization and success/failure conditions are not met. E.The randomization and 10% conditions are not met. F.The 10% condition is not met. G.The success/failure condition is not met. H.Without unreasonable assumptions, none of the conditions are met. c) What is the probability that over14%of these clients will not make timely payments? Pp>0.14=nothing(Round to three decimal places as needed.)

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Description: Based on past experience, a bank believes that12%of the people who receive loans will not make payments on time. The bank has recently approved100loans. Answer the following questions.a) What are the mean and standard deviation of the proportion o

the pdf of normal distribution is = 1/σ * √2π * e ^ -(x-u)^2/ 2σ^2standard normal distribution is a…

Answered: Based on past experience, a bank…

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Based on past experience, a bank believes that

12%

of the people who receive loans will not make payments on time. The bank has recently approved

100

loans. Answer the following questions.

a) What are the mean and standard deviation of the proportion of clients in this group who may not make timely payments?

μp=nothing

SDp=nothing

(Round to three decimal places as needed.)

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

With reasonable assumptions about the sample, all the conditions are met.

The randomization condition is not met.

The 10% and success/failure conditions are not met.

The randomization and success/failure conditions are not met.

The randomization and 10% conditions are not met.

The 10% condition is not met.

The success/failure condition is not met.

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?

Pp>0.14=nothing

(Round to three decimal places as needed.)

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