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Historical data collected at a small bank in Nova Scotia revealed that 80% of all customers...

Historical data collected at a small bank in Nova Scotia revealed that 80% of all customers applying for a loan are accepted. Suppose that 50 new loan applications are selected at random.

a. Find the expected value and the standard deviation of the number of loans that will be accepted by the bank.

b. What is the probability that at least 42 loans will be accepted?

c. What is the probability that the number of loans rejected is between 10 and 15, inclusive?

Math   Statistics-And-Probability   
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