38. The Institute for Higher Education Policy, a Washington, D.C.-based research firm, studied the payback of student loans for 1.8 million college students who had student loans that began to become due six years ago (The Wall Street Journal, November 27, 2012). The study found that 50% of the student loans were being paid back in a satisfactory fashion, whereas 50% of the student loans were delinquent. The following joint probability table shows the probabilities of the student loan status and whether or not the student had received a college degree. College Degree Yes No Satisfactory Delinquent Loan .26 .24 .50 Status .16 .34 .50 .42 .58 What is the probability that a student with a student loan had received a college degree? b. а. What is the probability that a student with a student loan had not received a college degree? Given the student had received a college degree, what is the probability that the student has a delinquent loan? d. Given the student had not received a college degree, what is the probability that the student has a delinquent loan? What is the impact of dropping out of college without a degree for students who have с. е. a student loan?

38. The Institute for Higher Education Policy, a Washington, D.C.-based research firm, studied the payback of student loans for 1.8 million college students who had student loans that began to become due six years ago (The Wall Street Journal, November 27, 2012). The study found that 50% of the student loans were being paid back in a satisfactory fashion, whereas 50% of the student loans were delinquent. The following joint probability table shows the probabilities of the student loan status and whether or not the student had received a college degree. College Degree Yes No Satisfactory Delinquent Loan .26 .24 .50 Status .16 .34 .50 .42 .58 What is the probability that a student with a student loan had received a college degree? b. а. What is the probability that a student with a student loan had not received a college degree? Given the student had received a college degree, what is the probability that the student has a delinquent loan? d. Given the student had not received a college degree, what is the probability that the student has a delinquent loan? What is the impact of dropping out of college without a degree for students who have с. е. a student loan?

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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Question

38. The Institute for Higher Education Policy, a Washington, D.C.-based research firm, studied
the payback of student loans for 1.8 million college students who had student loans that began
to become due six years ago (The Wall Street Journal, November 27, 2012). The study found
that 50% of the student loans were being paid back in a satisfactory fashion, whereas 50%
of the student loans were delinquent. The following joint probability table shows the
probabilities of the student loan status and whether or not the student had received a
college degree.
College Degree
Yes
No
Satisfactory
Delinquent
Loan
.26
.24
.50
Status
.16
.34
.50
.42
.58
What is the probability that a student with a student loan had received a college degree?
b.
а.
What is the probability that a student with a student loan had not received a college
degree?
Given the student had received a college degree, what is the probability that the student
has a delinquent loan?
d. Given the student had not received a college degree, what is the probability that the
student has a delinquent loan?
What is the impact of dropping out of college without a degree for students who have
с.
е.
a student loan?

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