The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the nu

Question

2 years ago

14

mber of commercial mortgages approved per week. The results from these two years (104 weeks) are shown to the right.

1 answer:

ZanzabumX [31] · Answer 1 · 2023-02-24T04:59:59+03:00

The expected number of mortgages approved per week and the standard deviation of the distribution are 2.019 and 0.024 respectively.

The expected number of mortgages approved per week :

Expected Number approved = 210 ÷ 104 = 2.019

Hence, it is expected that 2.019 mortageahes would be approved per week.

The standard deviation :

Variance = (59.5414 ÷ 104) = 0.0005698

Standard deviation = √0.0005698

Standard deviation = 0.024

Therefore, the expected value and standard deviation are 2.019 and 0.024 respectively.