A professor has two light bulbs in his garage. When both are burned out, they are replaced, and the next day starts with two working light bulbs. Suppose that when both are working, one of the two will go out with probability .02 (each has probability .01 and we ignore the possibility of losing two on the same day). However, when only one is there, it will burn out with probability .05.

a

step-by-step explanation:

strong negative correlation

explanation:

the loan estimate encourages consumers to shop. since it is the lenders who are required to issue a standardized loan estimate in a specific time frame, this way consumers are provided an opportunity to compare lenders and their products. otherwise consumer wouldn't know the benefits offered by other lenders.  

if a loan originator does not provide a loan estimate within 3 business days of receiving a completed loan application, that lender is in violation. lenders are required to issue a loan estimate within 3 days of applying for a loan or within 7 days prior to closing. having a loan estimate has following information.

not having loan estimate won't give you an idea of money to be borrowed.

you get to know your interest rates.

you also get to know if your interest rate can or may vary.

not having a good faith estimate can keep you unaware of aforementioned points.