There is a 1% delinquency rate for consumers with FICO (Fair Isaac & Company) credit rating scores above 800. If the Jeffers

Question

3 years ago

15

There is a 1% delinquency rate for consumers with FICO (Fair Isaac & Company) credit rating scores above 800. If the Jeffers

on Valley Bank provides large loans to 12 people with FICO scores above 800, what is the probability that at least one of them becomes delinquent? Based on that probability, should the bank plan on dealing with a delinquency?

Mathematics

2 answers:

Romashka [77] · Answer 1 · 2022-04-17T21:12:05+03:00

Romashka [77]3 years ago

8 0

Answer:

Yes

Step-by-step explanation:

Sladkaya [172] · Answer 2 · 2022-04-17T23:41:41+03:00

Sladkaya [172]3 years ago

4 0

Yes hope it’s right!!