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Based on past experience, a bank believes that 8 % of the people who receive loans will not make payments on time. The bank has

Based on past experience, a bank believes that

8 %

of the people who receive loans will not make payments on time. The bank has recently approved

200

loans.

What must be true in order to approximate the sampling distribution with a normal model? What is the probability that over

10 %

of these clients will not make timely payments?

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