# Question: A bank executive is presented with loan applications from 10

A bank executive is presented with loan applications from 10 people. The profiles of the applicants are similar, except that 5 are minorities and 5 are not minorities.

In the end the executive approves 6 of the applications.

If these 6 approvals are chosen at random from the 10 applications, what is the probability that fewer than half the approvals will be of applications involving minorities?

In the end the executive approves 6 of the applications.

If these 6 approvals are chosen at random from the 10 applications, what is the probability that fewer than half the approvals will be of applications involving minorities?

**View Solution:**## Answer to relevant Questions

Consider the joint probability distribution: a. Compute the marginal probability distributions for X and Y. b. Compute the covariance and correlation for X and Y. Consider the joint probability distribution: a. Compute the marginal probability distributions for X and Y. b. Compute the covariance and correlation for X and Y. c. Compute the mean and variance for the linear function W = ...Refer to the information in the previous exercise. Find the mean and standard deviation of the total number of complaints received in a week. Having reached this point, you are concerned that the numbers of food and service ...A long-distance taxi service owns four vehicles. These are of different ages and have different repair records. The probabilities that, on any given day, each vehicle will be available for use are 0.95, 0.90, 0.90, and ...The profit for a production process is equal to $1,000 minus two times the number of units produced. The mean and variance for the number of units produced are 50 and 90, respectively. Find the mean and variance of the ...Post your question