Mortgage Bankers Association reported that the rate of seriously delinquent loans has an average of 9.1% (The

Question:

Mortgage Bankers Association reported that the rate of seriously delinquent loans has an average of 9.1% (The Wall Street Journal, August 26, 2010). Let the rate of seriously delinquent loans follow a normal with a standard deviation of 0.80%.
a. What is the probability that the proportion of seriously delinquent loans has a rate above 8%?
b. What is the probability that the proportion of seriously delinquent loans has a rate

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...