The Credit Risk Department of a major bank estimates the default rate on loans under $10,000to be 1%. A random sample of 1100 new loans that are under $10,000is going to be selected. Let p be the proportion of defaults on the loans in the sample. Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of P. X 5 ? (b) Find the standard deviation of P. (c) Compute an approximation for P (p s 0.02), which is the probability that 2% or fewer of the loans in the sample will be defaulted on. Round your answer to four decimal places