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Based on past​ experience, a bank believes that 11 ​% of the people who receive loans...

Based on past​ experience, a bank believes that 11 ​% of the people who receive loans will not make payments on time. The bank has recently approved 100 loans. Answer the following questions. ​a) What are the mean and standard deviation of the proportion of clients in this group who may not make timely​ payments? mu left parenthesis ModifyingAbove p with caret right parenthesis equalsnothing.

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Answer #1

Approved loans = n =100

Sample proportion = 11% = 0.11 ,

Mean = = 0.11

Standard deviation =

1 - = 1 - 0.11 = 0.89

=

= 0.0313

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