OK, so there are parts to this question I have already answered butwould like so
ID: 2950431 • Letter: O
Question
OK, so there are parts to this question I have already answered butwould like someone to double-check my answers, trivial as it mayseem:You offer a credit card with your retail company.3% of all your credit card holders default on their payments. 88%of those who defaulted were late on their payments beforehand. 40%of those who didn't default were late on their payments beforehand.Answer questions 1-4 using this information.
1. What % of those who defaulted were on time with theirpayments? My Answer: 22%
2. What % of those who didn't default were on time with theirpayments? My Answer: 60%
3. What overall % of people were on time with their payments?My Answer: 82%
4. [This is where I need help!] Are paying ontime and not defaulting on payments independent or dependent? Ifindependent or independent, why?
Thank you for all who respond!
You offer a credit card with your retail company.3% of all your credit card holders default on their payments. 88%of those who defaulted were late on their payments beforehand. 40%of those who didn't default were late on their payments beforehand.Answer questions 1-4 using this information.
1. What % of those who defaulted were on time with theirpayments? My Answer: 22%
2. What % of those who didn't default were on time with theirpayments? My Answer: 60%
3. What overall % of people were on time with their payments?My Answer: 82%
4. [This is where I need help!] Are paying ontime and not defaulting on payments independent or dependent? Ifindependent or independent, why?
Thank you for all who respond!
Explanation / Answer
paying on time and not defaulting on payments are dependentbecause 40% of those who didn't default were late on their paymentsbeforehand hence 60% of those who didn't default were not late ontheir payments beforehand.Related Questions
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