Question

A bank grants mortgage loans to 75% of all applicants. The bank receives 23 mortgage applications next month. Assume that approvals are granted independently.

a. How many of the 23 applications are expected to be approved?

The expected number of approved applications is ... (Round to two decimal places.)

b. What is the standard deviation of the number of approved applications?

The standard deviation of the number of approved applications is ... (Round to two decimal places.)

c. How much total income can the appraiser expect to receive next month?

The appraiser can expect to receive a total of TL ... (Type in an integer.)

d. What is the variability of the appraiser's income?

The standard deviation of the amount of money the appraiser receives is ... (Type in an integer.)

Answer #1

**Answer:**

a) The expected number of applications that are expected to be approved is computed here as:

E(X) = np = 23 * 0.75 = 17.25

**Therefore 17.25 applications are expected to be
approved.**

b) The standard deviation of the number of approved applications here is computed as:

= sqrt(23*075*0.25)

**= 2.0766**

**Therefore 2.07 is the standard deviation of the number
of approved applications.**

data is missing in part c and d

**NOTE:: i can answered only part a and b , part c and d
data is missing**

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