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A mortgage lender attempted to increase its business by marketing its subprime mortgage. This mortgage is designed for people with a less than perfect credit rating, then the interest rate is higher to offset the extra risk. In the past year, 20% of these mortgages resulted in foreclosure as customers defaulted on their loans. A new screening system has been developed to determine whether to approve customers for the subprime loans. When the system is applied to a credit application, the system will classify the application as " Approve for loan" or " Reject for loan". When this new system was applied to recent customers who had defaulted on their loans, 90% of these customer were classified as " reject". When this same system was applied to recent loan customers who had not defaulted on their loan payments, 70% of these customer were classified as " approve"
a- If a customer did not default on a loan, what is the probability that the rating system would have classified the applicant in the reject category?
b- If the rating system had classified the applicant in the reject category, what is the probability that the customer would not default on a loan?
Create an research question, and then state the experimental and null hypotheses. Then, explain why null and alternative hypotheses have to be mutually exclusive. Finally, discuss how Type I and Type II errors are related to your hypotheses.
The estimated age-adjusted percent of persons 18 years of age and over who smoke cigarettes are shown below for females and males for selected years.
Provided an example of a research problem at any organization that would benefit from the employ of either descriptive statistics or probability distribution statistics.
In other words, both variables have the same mean but different standard deviations. Draw rough sketches of the two normal curves on the same graph.
Pick a random sample of 50 homes from the enclosed 90 cases. Double the asking price and selling price and use this data to develop three predictive models:
To find out the proportion of the population of likely voters who agree the statement. Could we say among appropriate statistical certainty which the proportion of the population of likely voters.
What is the approximate estimated bootstrap standard error of the median, What is the approximate bias of the median estimated from bootstrapping - What is the bootstrap t confidence interval for the median
The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project.
What is the probability that: The amount requested is $80,000 or more?
Determine her weighted mean grade? What letter grade did she earn? (A, B, C, D or F).
John, a medical practitioner at a private medical facility, is discussing the problem that one of his patients, Tom, says he has been having with the medication that the doctor has prescribed.
At the .01 significance level, can we conclude that there is more variation?
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