13.35 At the end of 2016, the average outstanding student debt for bachelor's degree recipients was $28,500. Here is the distribution of outstanding education debt (in thousands of dollars):17 Debt < 10 10 to < 20 20 to < 30 30 to 40 40 to < 50 ≥ 50

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Chapter1: Combinatorial Analysis
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13.35
At the end of 2016, the average outstanding student debt for
bachelor's degree recipients was $28,500. Here is the distribution of outstanding
education debt (in thousands of dollars):17
Debt
Probability
< 10
0.40
10 to < 20
0.13
20 to 30
0.17
30 to 40
0.12
40 to 50
0.08
> 50
0.10
a. What is the probability that a randomly chosen student has an
outstanding debt of $20,000 or more?
b. Given that a student has an outstanding debt of at least $20,000, what is
the conditional probability that the debt is at least $50,000?
Transcribed Image Text:13.35 At the end of 2016, the average outstanding student debt for bachelor's degree recipients was $28,500. Here is the distribution of outstanding education debt (in thousands of dollars):17 Debt Probability < 10 0.40 10 to < 20 0.13 20 to 30 0.17 30 to 40 0.12 40 to 50 0.08 > 50 0.10 a. What is the probability that a randomly chosen student has an outstanding debt of $20,000 or more? b. Given that a student has an outstanding debt of at least $20,000, what is the conditional probability that the debt is at least $50,000?
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