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The next four questions refer to the following scenario: A bank collected data of all its customers. Customers who repaid their consumer loans (Good Credit) had an average deposit of x standard deviation of OGood Credit =$75. Customers who defaulted on their consumer loans (Bad Credit) had an average weekly deposit of x Bad Credit= $300 with a standard deviation of also O Bad Credit=$75. As a result of the data collection, the bank decides to give loans to customers only who do not have weekly deposits of at least $380. $500 with a %3D Good Credit

The next four questions refer to the following scenario: A bank collected data of all its customers. Customers who repaid their consumer loans (Good Credit) had an average deposit of x standard deviation of OGood Credit =$75. Customers who defaulted on their consumer loans (Bad Credit) had an average weekly deposit of x Bad Credit= $300 with a standard deviation of also O Bad Credit=$75. As a result of the data collection, the bank decides to give loans to customers only who do not have weekly deposits of at least $380. $500 with a %3D Good Credit

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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What's the probability that a good credit customer will now not receive a loan (Type I error)? a= 2.22% O 3.33% O4.44% 5.55%
Transcribed Image Text:What's the probability that a good credit customer will now not receive a loan (Type I error)? a= 2.22% O 3.33% O4.44% 5.55%
The next four questions refer to the following scenario: A bank collected data of all its customers. Customers who repaid their consumer loans (Good Credit) had an average deposit of x Good Credit= $500 with a standard deviation of oGood Credit =$75. Customers who defaulted on their consumer loans (Bad Credit) had an average weekly deposit of x Bad Credit= $300 with a standard deviation of also O Bad Credit =$75. As a result of the data collection, the bank decides to give loans to customers only who do not have weekly deposits of at least $380.
Transcribed Image Text:The next four questions refer to the following scenario: A bank collected data of all its customers. Customers who repaid their consumer loans (Good Credit) had an average deposit of x Good Credit= $500 with a standard deviation of oGood Credit =$75. Customers who defaulted on their consumer loans (Bad Credit) had an average weekly deposit of x Bad Credit= $300 with a standard deviation of also O Bad Credit =$75. As a result of the data collection, the bank decides to give loans to customers only who do not have weekly deposits of at least $380.
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