//undergrad.floridatechonline.com/Scripts/TestEngine/UserTest/UTFramed.aspx2rid-
ID: 3072892 • Letter: #
Question
//undergrad.floridatechonline.com/Scripts/TestEngine/UserTest/UTFramed.aspx2rid-16705098tid-931666 nalCAS-Central Auther B Classroom Logn G Inbox(4) spravík 0 @ Pearson Sign ln 4 MLActabon generat Grades and Attenda n Remaining Time: 00:46:09 Question 14 of 20 (-5 Points) 5 of 20 Questions Answered Question A survey of banks revealed the following distribution for the interest rate being charged on a home loan based on a 30-year mortgage with a 10% down payment on a certain date in the past 340%l to 3.50%). to Interest Rate l 3.30%| 3.60% and above 0.06 3.20% to to 3.39%| 0.23 3.49%| 0.24 3.59%) 0.35 3.29%| Probabili If a bank is selected at random from this distribution, what is the chance that the interest rate charged on a home loan will exceed 3 49%? A 006 O B 041 059 OD 100Explanation / Answer
the chance that the interest rate charged on a home loan will exceed 3.49% = The probability if the interest rate charged is between 3.50% to 3.59% + The probability that the rate of interest is 3.60% and above
the chance that the interest rate charged on a home loan will exceed 3.49% = 0.35+0.06 =0.41
hence option B is right
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.