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Find the percentage of people defaulting on their loans

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Question: A loans manager at a large bank believes that the percentage of her customers who default on their loans during each quarter is an approximately normally distributed random variable with mean 12.1% and standard deviation 2.5%. Give a lower bound x with 0.75 probability that the percentage of people defaulting on their loans is at least x. Also give an upper bound x' with 0.75 probability that the percentage of loan defaulters is below x'.

Reference no: EM131692665

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