# Question: A loans manager at a large bank believes that the

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`.

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

The power generated by a solar electric generator is normally distributed with mean 15.6 kilowatts and standard deviation of 4.1 kilowatts. We may be 95% sure that the generator will deliver at least how many kilowatts? Typing speed on a new kind of keyboard for people at a certain stage in their training program is approximately normally distributed. The probability that the speed of a given trainee will be greater than 65 words per minute ...The GMAT scores of students who are potential applicants to a university are normally distributed with a mean of 487 and a standard deviation of 98. a. What percentage of students will have scores exceeding 500? b. What ...When sampling is from a population with standard deviation σ = 55, using a sample of size n = 150, what is the probability that will be at least 8 units away from the population mean µ? An advertisement for Citicorp Insurance Services, Inc., claims "one person in seven will be hospitalized this year." Suppose you keep track of a random sample of 180 people over an entire year. Assuming Citicorp's ...Post your question