Kizspy | Question: 46
(Choose 1 answer)
(See picture)
A. 0.06
B. 0.41
C. 0.59
D. 1.00
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.
Interest Rate
3.20%to3.29%
3.30%
to 3.39%
3.40%
to 3.49%
3.50%to3.59%
3.60%and above
0.06
Probability
0.12
0.23
0.24
0.35
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%?
