Answer Happy

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 600 loans. Describe the sampling distribution
model of the proportion of clients in this group who may not make
timely payments.
a.
mean = 8%; standard deviation = 1.1%
b.
mean = 92%; standard deviation = 0.3%
c.
mean = 8%; standard deviation = 0.3%
d.
There is not enough information to describe the
distribution.
e.
mean = 92%; standard deviation = 1.1%