Question: Mortgage Bankers Association reported that the rate of seriously delinquent

Mortgage Bankers Association reported that the rate of seriously delinquent loans has an average of 9.1% (The Wall Street Journal, August 26, 2010). Let the rate of seriously delinquent loans follow a normal distribution with a standard deviation of 0.80%.
a. What is the probability that the proportion of seriously delinquent loans has a rate above 8%?
b. What is the probability that the proportion of seriously delinquent loans has a rate


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  • CreatedJanuary 28, 2015
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