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jordyn resoso
on Dec 01, 2024

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Based on past experience,a bank believes that 9% of the people who receive loans will not make payments on time.The bank has recently approved 300 loans.Describe the sampling distribution model of the proportion of clients in this group who may not make timely payments.

A) Binom(300,9%)
B) N(9%,0.5%)
C) N(91%,1.7%)
D) N(9%,1.7%)
E) There is not enough information to describe the distribution.

Timely Payments

Payments made within the agreed upon time frame as outlined in a contract or agreement.

Loans

A financial arrangement in which money is borrowed for a certain period of time, typically with interest.

Sampling Distribution

The probability distribution of a given statistic based on a random sample.

  • Utilize the theories of sampling distribution to expound and foresee real-world cases.
  • Display comprehension of Binomial and Normal distributions in scenarios involving sampling.
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Hailey WatsonDec 06, 2024
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