The default rate on government-guaranteed student loans at a certain public four-year institution is 7 percent. (a)
Question:
(a) If 1,000 student loans are made, what is the probability of fewer than 50 defaults?
(b) More than 100? Show your work carefully.
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Related Book For
Applied Statistics In Business And Economics
ISBN: 9780073521480
4th Edition
Authors: David Doane, Lori Seward
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