What is the probability that it is overdue

Assignment Help Basic Statistics
Reference no: EM133117870

Question - All the Banks in Australia analysed the status of customer accounts at the end of the concessions period for loan repayments due to Global Pandemic. According to that one of the banks classified their loan accounts in two different ways (i)" overdue" and "not overdue" and (ii) Old and new. The table below shows the identified probabilities.


Overdue

Not overdue

New

0.06

0.13

Old

0.52

0.29

One account is randomly selected.

(i) If the account is overdue, what is the probability that it is new?

(ii) If the account is new, what is the probability that it is overdue?

(iii) Is the age of the account related to whether it is overdue? Explain.

Reference no: EM133117870

Questions Cloud

Major economic events influenced supply : Major economic events influenced supply, demand, and economic equilibrium in the US economic activity:
Problematic for leaders in small businesses : The learner identifies a lack of financial resource strategies as problematic for leaders in small businesses;
Calculate the amount of fixed overhead volume variance : The estimate for total budgeted overhead is $4492,000. Calculate and enter the amount of fixed overhead volume variance
What is the annual Interest Payment : The Accounting Department requested your assistance to resolve the following; Net Income = $23,750,000. What is the annual Interest Payment
What is the probability that it is overdue : One account is randomly selected. If the account is new, what is the probability that it is overdue? If the account is overdue, what is the probability
Innovation at IKEA : Which type (or types) of organizational culture do you think are dominant at IKEA?
Develop a linear trend equation : The following time series shows the sales of supermarket chain over the last six months. Develop a linear trend equation
What is marketing management : What Is Marketing Management? What Importance Do You Attach To Market Research In Your Profession?
What amount should be reported for cash : If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd