The manager of the commercial mortgage department of a large bank has collected data during the past

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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 as follows:

Number of Commercial
Mortgages Approved                        Frequency
0...........................................................................13
1...........................................................................25
2...........................................................................32
3...........................................................................17
4.............................................................................9
5.............................................................................6
6.............................................................................1
7.............................................................................1

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?

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Basic Business Statistics Concepts And Applications

ISBN: 9780134684840

14th Edition

Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan

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