Sunday
March 29, 2015

Homework Help: Probability - PLEASE HELP

Posted by Anonymous on Tuesday, December 6, 2011 at 10:30pm.

From industry statistics, a credit card company knows that 0.8 of its potential card holders are good credit risks, and 0.2 are bad credit risks. The company uses discriminant analysis to screen credit card applicants and determine which ones should receive credit cards. The company awards credit cards to 70% of those who apply. The company has found that of those awarded credit cards, 95% turn out to be good credit risks. What is the probability that an applicant who is a bad credit risk will be denied a credit card?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Applied statistics for business and economics - Only 0.02% of credit card ...
Credit Cards - the credit card company will: -charge interest on remaining bill...
English - Adjectives/Adverbs I need to underline the adjectives and bold the ...
Statistics - Help! - I really really need help with this. Can someone please ...
Statistics - At 100 college campuses, 1200 full-time undergraduate students were...
Finance - Due to poor spending habits, Bryant has accumulated $5,000 in credit ...
Math - Kyles credit card bill is $455. Kyle sends a check to the credit card ...
statistics - The credit card industry has determined that about 65% of college ...
math - Each time Lucy uses her credit card she earns points from the credit card...
English - Would this be an effecive thesis statement? Even though some feel as ...

Members