13. In a study conducted three years ago, 82% of the people in a randomly selected sample were found to have "good" financial credit ratings, while the remaining 18% were found to have "bad" financial credit ratings. Current records of the people from the sample show that 30% of those with bad credit ratings have since improved their ratings to good, while 15% of those with good ratings have since changed to having a bad credit rating. What percentage of people with good credit ratings now, had bad ratings three years ago? [HINT: Use Bayes' Theorem. A tree diagram will be helpful.]
13. In a study conducted three years ago, 82% of the people in a randomly selected sample were found to have "good" financial credit ratings, while the remaining 18% were found to have "bad" financial credit ratings. Current records of the people from the sample show that 30% of those with bad credit ratings have since improved their ratings to good, while 15% of those with good ratings have since changed to having a bad credit rating. What percentage of people with good credit ratings now, had bad ratings three years ago? [HINT: Use Bayes' Theorem. A tree diagram will be helpful.]
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
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![13. In a study conducted three years ago, 82% of the people in a randomly selected sample
were found to have "good" financial credit ratings, while the remaining 18% were found
to have "bad" financial credit ratings. Current records of the people from the sample
show that 30% of those with bad credit ratings have since improved their ratings to
good, while 15% of those with good ratings have since changed to having a bad credit
rating. What percentage of people with good credit ratings now, had bad ratings three
years ago? [HINT: Use Bayes' Theorem. A tree diagram will be helpful.]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F09c673d0-5d65-4aee-b2cf-54644089ad9f%2F7d41312a-6e3a-4c5d-baa3-23635536b060%2F9y0f7ub_processed.jpeg&w=3840&q=75)
Transcribed Image Text:13. In a study conducted three years ago, 82% of the people in a randomly selected sample
were found to have "good" financial credit ratings, while the remaining 18% were found
to have "bad" financial credit ratings. Current records of the people from the sample
show that 30% of those with bad credit ratings have since improved their ratings to
good, while 15% of those with good ratings have since changed to having a bad credit
rating. What percentage of people with good credit ratings now, had bad ratings three
years ago? [HINT: Use Bayes' Theorem. A tree diagram will be helpful.]
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