Based on Past Experience, a Bank Believes That 7% of the People

question 15

Multiple Choice

Based on past experience, a bank believes that 7% of the people who receive loans will not make payments on time.The bank has recently approved 300 loans.What is the probability that over 8% of these clients will not make timely payments?

• A)0.752
• B)0.504
• C)0.248
• D)0.68
• E)0.496

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Definitions:

Innovative Products

Goods that introduce new features, functionalities, or efficiencies, offering novel solutions to consumers or improving upon existing products.

Existing Products

Goods or services that a company has been offering to the market, as opposed to newly developed offerings.

Business Analysis

The practice of identifying business needs and finding solutions to business problems, often involving the evaluation of business structure, processes, and operations.

Prototype Testing

The process of evaluating the design, functionality, and performance of a preliminary version of a product before it goes into mass production.