Question
In: Statistics and Probability
The manager of the commercial mortgage department of a large bank has collected data during the...
The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years (104 weeks) are shown to the right.
a. Compute the expected number of mortgages approved per week.
b. Compute the standard deviation.
c. What is the probability that there will be more than one commercial mortgage approved in a given week?
Number_Approved Frequency
0 12
1 25
2 32
3 18
4 9
5 5
6 2
7 1
The expected number of mortgages approved per week is
(Round to three decimal places as needed.)
b. The standard deviation is
(Round to three decimal places as needed.)
c. The probability that there will be more than one commercial mortgage approved in a given week is
(Round to three decimal places as needed.)
Solutions
orchestra answered 1 year agoRelated Solutions
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