A commercial bank is reviewing the status of recent real estate mortgage applications. Some applications have been accepted, some rejected, and some are pending while waiting for further information. The data are shown in Table 17.4.6 and graphed in Figure 17.4.1.
a. Write a paragraph, as if to your supervisor, describing Figure 17.4.1 and comparing the status of residential to commercial loan applications.
b. Are the differences between residential and commercial customers significant? How do you know?

FIGURE 17.4.1

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TABLE 17.4.6 Status of Mortgage Applications Residential Commercial Accepted Information requested 30 Rejected 78 57 13 100% ResidentialCommercial 50% 0% Accepted Information requested Rejected