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MBPF Bank on the average receives 20 loan applications per hour. Each loan application goes through an initial processing stage, where an "accept" or "reject" decision is made. Approximately 85% of the loans are accepted. Accepted loans require additional processing. Rejected loans require no additional processing. Suppose that on the average 6 loans applications are in the initial processing stage, and 25 accepted loan applications are in an additional processing stage.
1. What is the average processing time required for a rejected loan?
The potential answers are:
A: 18 minutes.
B: 14.55 minutes.
C: 13.5 minutes.
D: 30 minutes.
E: 11 minutes.
2. What is the average processing time required for an accepted loan?
A: 106.24 minutes.
B: 84.48 minutes.
C: 67.85 minutes.
D: 132.27 minutes.
E: 49.46 minutes.
3. What is the average processing time required for a loan application?
A: 76.8 minutes.
B: 60 minutes.
C: 51 minutes.
D: 93 minutes.
E: 41 minutes.
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