O RANDOM VARIABLES AND DISTRIBUTIONS Ad . . . . rIanne Central IImIt theorem: Sample proportIon :H:H:Il:l|: 0/5 v C The Credit Risk Department of a major bank estimates the default rate on loans under $10,000 to be 4%. The bank will make 2400 loans that are under $10,000 next month. Answer the following. (If necessary, consult a list of formulas.) '0 A A (a) Find the mean of p, where p is the proportion of defaults on the 2400 loans under $10,000 to be made next month. X b I] A (b) Find the standard deviation of p. I] A (c) Compute an approximation forP(p 50.035), which is the probability that 3.5% or fewer of next month's loans under $10,000 will be defaulted on. Round your answer to four decimal places. I] lll