According to the Mortgage Bankers Association, 21% of U. S. mortgages were delinquent last year. A delinquent mortgage is one that has missed at least one payment but has not yet gone to foreclosure. A random sample of seven mortgages was selected. What is the standard deviation of this distribution

The standard deviation for the number of delinquent mortgages in the sample is 1.08.

Step-by-step explanation:

For each mortgage, there are only two possible outcomes. Either it is delinquent, or it is not. The probability of a mortgage being delinquent is independent of other mortgages. So we use the binomial probability distribution to solve this question.

Binomial probability distribution

Probability of exactly x sucesses on n repeated trials, with p probability.

The standard deviation of the binomial distribution is:

21% of U.S. mortgages were delinquent last year.

This means that

A random sample of seven mortgages was selected.

This means that

What is the standard deviation of this distribution

The standard deviation for the number of delinquent mortgages in the sample is 1.08.

it has the same slope and a different y-intercept

hope this : )