The manager of the commercial mortgage department of a large bank has collected data during the past
Question:
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?
Step by Step Answer:
Basic Business Statistics Concepts And Applications
ISBN: 9780134684840
14th Edition
Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan