Historical Data Collected at First of America Bank in Michigan

question 23

Short Answer

Historical data collected at First of America Bank in Michigan revealed that 80% of all customers applying for a loan are accepted. Suppose that 50 new loan applications are selected at random.
Find the expected value of the number of loans that will be accepted by the bank.
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Find the standard deviation of the number of loans that will be accepted by the bank.
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What is the probability that at least 42 loans will be accepted?
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What is the probability that the number of loans rejected is between 10 and 15, inclusive?
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Definitions:

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The scientific study of the mind and behavior, encompassing various aspects of human experience, thoughts, emotions, and actions.

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