Compute the expected number of mortgages approved per week. b. Compute the standard deviation. c. What is the probability that there will be more than one commercial mortgage approved in a given week?
Compute the expected number of mortgages approved per week. b. Compute the standard deviation. c. What is the probability that there will be more than one commercial mortgage approved in a given week?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.CR: Chapter 13 Review
Problem 8CR
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Question
The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years
(104 weeks) are shown below.
a. Compute the expected number of mortgages approved per week.
b. Compute the standard deviation.
c. What is the probability that there will be more than one commercial mortgage approved in a given week?
Number Approved | Frequency |
0 | 13 |
1 | 25 |
2 | 33 |
3 | 18 |
4 | 8 |
5 | 5 |
6 | 1 |
7 | 1 |
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