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Probability of a random mortgage is of being approved

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Reference no: EM132051946

If the probability of a credit score is equal to or higher than 700 is 0.45. The probability that a mortgage will be approved given a credit score of 700 or higher is 0.9. The probability that a mortgage application will be denied given a credit score of less than 700 is 0.7 How do I determine what equation to use to figure out what the probability of a random mortgage is of being approved?

Reference no: EM132051946

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