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Over the last five years a bank has issued 250 loans on cars. Of those, 85 were for cars worth less than $10,000 and 42 of those borrowers defaulted; 112 were for cars worth between $10,000 and $30,000, and 37 of those borrowers defaulted; of the remaining 53 loans for cars worth over $30,000 there were 25 defaults. Construct a tab two-way le for this situation and hence, or otherwise, find the probability that

(a) a borrower defaulted on a car loan of unknown value
(b) a borrower for a car worth less than $10,000 did not default
(c) a defaulted car loan was for a car worth over $30,000.
(d) What is the probability that the next two borrowers both default (on car loans of unknown value).

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M990509

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