A Research Manager at a local bank collected data over the past two years regarding the number of residential mortgages
Posted: Thu Jul 14, 2022 4:51 pm
A Research Manager at a local bank collected data over the pasttwo years regarding the number of residential mortgages approvedper week. The results of the research are given below: Number ofresidential mortgages approved Probability 0 0.12 1 0.24 2 0.31 30.16 4 0.09 5 0.06 6 0.01 7 0.01 (a) Calculate the expected valueof mortgages approved per week and interpret it. [12 marks] (b)Calculate the standard deviation of mortgages approved per week [12marks] (c) What is the probability that at least three mortgageswill be approved per week? [2 marks] (d) What will be theprobability that at least 5 mortgages will be approved at all in aweek? [2 marks]
statistics
statistics