They provide jumbo loans to middle class households. If a customer fails to pay their mortgage and
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They provide jumbo loans to middle class households. If a customer fails to pay their mortgage and declare bankruptcy the loss is recorded as operational loss. Each operational loss is supposed to be insured with probability 65%. If in 2017, BBGM has 25 customers who declared bankruptcy, what is the probability of BBGM having insurance in 15 or more loans?
Related Book For
Probability and Statistics for Engineering and the Sciences
ISBN: 978-1305251809
9th edition
Authors: Jay L. Devore
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