6. Robert is applying for a bank loan to open a pizza franchise. He must complet

Question

6. Robert is applying for a bank loan to open a pizza franchise. He must complete a written application and then be interviewed by bank officers. Past records for this bank show that the probability of being approved in the written part is 0.61. Then the probability of being approved by the interview committee is 0.88, given that the candidate has been approved on the written application. What is the probability that Robert will be approved on both the written application and the interview? Assume the events are independent.

Explanation / Answer

P(approved in written part) = 0.61

P(approved by interview committee | approved in written part) = 0.88

A) P(approved in both written part and interview committee) = P(approved by interviewed part | approved by written part) * P(approved by written part)

= 0.88 * 0.61

= 0.5368

B) there is not enough information to find out whether they are independent events or not.

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