# 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

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

## Relevant Questions

The time required to assemble an electronic component is normally distributed with a mean and a standard deviation of 16 minutes and 8 minutes, respectively. a. Find the probability that a randomly picked assembly takes ...Average talk time between charges of a cell phone is advertised as 4 hours. Assume that talk time is normally distributed with a standard deviation of 0.8 hour. a. Find the probability that talk time between charges for a ...A certain brand of refrigerators has a length of life that is normally distributed with a mean and a standard deviation of 15 years and 2 years, respectively. In addition to providing the answer, state the relevant Excel ...According to Daily Mail (February 28, 2012), there was an average of one complaint every 12 seconds against Britain's biggest banks in 2011. It is reasonable to assume that the time between complaints is exponentially ...U.S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The average amount spent annually on a debit card is $7,790 (Kiplinger's , August 2007). Assume that the average amount ...Post your question