Based on Past Experience, a Bank Believes That 4% of the People

Multiple Choice

Based on past experience, a bank believes that 4% of the people who receive loans will not make payments on time.The bank has recently approved 300 loans.What is the mean of the proportion of clients in this group who may not make timely payments?

A) $\mu = 4 \%$
B) $\mu = 3.46 \%$
C) $\mu = 1.1 \%$
D) $\mu = 2 \%$
E) $\mu = 12 \%$