Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The manager of the commercial mortgage department of a large bank Number Approved Frequency 5 has collected data during the past two years concerning the
The manager of the commercial mortgage department of a large bank Number Approved Frequency 5 has collected data during the past two years concerning the number of 0 14 commercial mortgages approved per week. The results from these two 1 24 years (104 weeks) are shown to the right. 2 32 3 1? a. Compute the expected number of mortgages approved per week. 4 3 b. Compute the standard deviation. 5 5 c. What is the probability that there will be more than one commercial 5 2 mortgage approved in a given week? 7 1 (E a. The expected number of mortgages approved per week is El. (Round to three decimal places as needed.) A manufacturing company regularly conducts quality control checks at specified periods on the products it manufactures. Historically, the failure rate for LED light bulbs that the company manufactures is 13%. Suppose a random sample of 10 LED light bulbs is selected. Complete parts (a) through (d) below. E a. What is the probability that none of the LED light bulbs are defective? The probability that none of the LED light bulbs are defective is 0.2485 . (Type an integer or a decimal. Round to four decimal places as needed.) b. What is the probability that exactly one of the LED light bulbs is defective? The probability that exactly one of the LED light bulbs is defective is E. (Type an integer or a decimal. Round to four decimal places as needed.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started