More than 40 million Americans are estimated to have at least one outstanding st
ID: 3305524 • Letter: M
Question
More than 40 million Americans are estimated to have at least one outstanding student loan to help pay for college expenses. Not all graduates pay back thei debt in satisfactory fashion. Suppose that the following table shows data for a randomly selected sample of Americans. The table contains student loan repayment status (satisfactory or delinquent) and whether or not the student had received a college degree.
Calculate the conditional probability of delinquent status given that the person did not earn a college degree.
Hint: Add marginal totals to the table.
Round your answer to three decimal places.
College Degree Yes No Satisfactory 236 230 Delinquent 151 364Explanation / Answer
The conditional probability of delinquent status given that the person did not earn a college degree = ?
The person did not earn a college degree = 230+364 = 594
there are 264 deliquents out of these 594 who didn't earn college degree
So, P( conditional probability of delinquent status given that the person did not earn a college degree)
= 264/594
= .444
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