Question
They provide jumbo loans to middle class households. If a customer fails to pay their mortgage and declare bankruptcy the loss is recorded as operational
They provide jumbo loans to middle class households. If a customer fails to pay their mortgage and declare bankruptcy the loss is recorded as operational loss. Each operational loss is supposed to be insured with probability 65%. If in 2017, BBGM has 25 customers who declared bankruptcy, what is the probability of BBGM having insurance in 15 or more loans?
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Probability And Statistics For Engineering And The Sciences
Authors: Jay L. Devore
9th Edition
1305251806, 978-1305251809
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