What is the probability that the person will default on loan

Assignment Help Basic Statistics

Reference no: EM131369826

The probability that a bank customer will default on a loan is 0.04 if the economy is high and 0.13 if the economy is not high. Suppose the probability that the economy will be high is 0.65.

What is the probability that the person will default on the loan?

Reference no: EM131369826

Questions Cloud

Explain which styles take precedence : magz64- Explain which styles take precedence and how the precedence is established. Provide an example where multiple levels of styles would be used and why.

What vertical airspeed is needed : What vertical airspeed is needed if the sail plane is to maintain a constant altitude?

What is the probability that authorization to visit the port : The company further estimates that the probability that the legislation will pass is 0.75. If the company should find that the relevant legislation just passed, what is the probability that authorization to visit the port will be granted?

What are the service management characteristics of csr job : Suppose that you were thinking about opening a new restaurant. What type of information would you use to go about forecasting demand and sales?Why is process thinking important in operations management? Thinking of yourself as an "operations manage..

What is the probability that the person will default on loan : The probability that a bank customer will default on a loan is 0.04 if the economy is high and 0.13 if the economy is not high.- What is the probability that the person will default on the loan?

Service scheduling problem requires among other things : A service scheduling problem requires, among other things, to identify the number of employees that need to work during a day shift. This number of employees can be described as: In the MRP schedule for item A, the gross requirement is 245 units, saf..

What is probability that the worker is on an assembly line : What is the probability that the worker is on an assembly line?- Given that the worker is on an assembly line, what is the probability that the worker is unskilled?

What is its takeoff speed : With the same configuration (i.e., angle of attack, flap settings, etc.), what is its takeoff speed if it is loaded with 372 passengers? Assume each passenger with luggage weighs 200 lb.

About mental models : Which of the following is true about mental models?

User Account

All Pages