Based on past experience, a bank believes that 1313% of the people who receive loans will not make payments on time. The bank has recently approved 100100 loans. Answer the following questions. a) What are the mean and standard deviation of the proportion of clients in this group who may not make timely payments? mu (ModifyingAbove p with caret )μpequals=nothing

Mean is 0.13

Standard deviation is 0.0336.

Step-by-step explanation:

For each loan, there are only two possible outcomes. EIther it is paid on time, or it is not. The probability of a loan being paid on time is independent of other loans. So we use the binomial probability distribituon to solve this question.

Binomial probability distribution

Probability of exactly x sucesses on n repeated trials, with p probability.

The mean of the proportion is given by:

The standard deviation of the proportion is:

In this problem, we have that

.

Mean

Standard deviation

bull

step-by-step explanation: