A loans manager at a large bank believes that the percentage of her customers who default on
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A loans manager at a large bank believes that the percentage of her customers who default on their loans during each quarter is an approximately normally distributed random variable with mean 12.1% and standard deviation 2.5%. Give a lower bound x with 0.75 probability that the percentage of people defaulting on their loans is at least x. Also give an upper bound x` with 0.75 probability that the percentage of loan defaulters is below x`.
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Related Book For
Complete Business Statistics
ISBN: 9780077239695
7th Edition
Authors: Amir Aczel, Jayavel Sounderpandian
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