Wednesday
April 23, 2014

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

Intro Statistics - Please let me know if I'm on the right track. Probability of ...
Statistics - Help! - I really really need help with this. Can someone please ...
statistics - The credit card industry has determined that about 65% of college ...
Statistics - At 100 college campuses, 1200 full-time undergraduate students were...
statistics probablity - Each time that Ed Charges an expense to his credit card...
MATHS STATISTICS - A. According to an estimate, 50% of the people in the United ...
statistics - According to an estimate, 50% of the people in America have at ...
Applied statistics for business and economics - Only 0.02% of credit card ...
statistics - On a standard 52 card deck, calculate the probability. that on card...
Statistics Help Please - A bank is testing a new method for getting delinquent ...

Search
Members