document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=62746>Question 62746</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Historical data collected at American Nationwide Mortgage revealed that 80% of all customers applying for a loan are accepted. Suppose that 50 new loan applications are selected at random.\r<BR>\n" );
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document.write( "a)	What is the probability that at least 42 loan applications will be accepted?<BR>\n" );
document.write( "b)	What is the probability that more than 40 loan applications will be accepted?<BR>\n" );
document.write( "c)	What is the probability that less than 25 loan applications will be accepted?<BR>\n" );
document.write( "d)	What is the probability that less than 5 loan applications will be rejected?<BR>\n" );
document.write( "e)	What is the probability that more than 30 loan applications will be accepted?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #43620 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=43620\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Historical data collected at American Nationwide Mortgage revealed that 80% of all customers applying for a loan are accepted. Suppose that 50 new loan applications are selected at random.<BR>\n" );
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document.write( "These are all binomial with n=50, p=0.8 <BR>\n" );
document.write( "a) What is the probability that at least 42 loan applications will be accepted?<BR>\n" );
document.write( "P(X>=42)=0.3073...<BR>\n" );
document.write( "b) What is the probability that more than 40 loan applications will be accepted?<BR>\n" );
document.write( "P(X>40)=0.4437...<BR>\n" );
document.write( "c) What is the probability that less than 25 loan applications will be accepted?<BR>\n" );
document.write( "0.0000004924...<BR>\n" );
document.write( "d) What is the probability that less than 5 loan applications will be rejected?<BR>\n" );
document.write( "6.78X10^-28<BR>\n" );
document.write( "e) What is the probability that more than 30 loan applications will be <BR>\n" );
document.write( "accepted?<BR>\n" );
document.write( "0.99967...<BR>\n" );
document.write( "Comment: Got these answers using the function binomcdf on a TI-83 calculator.<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.\r<BR>\n" );
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