A loan officer knows that 50% of loan applicants in their 20s have bad credit, 40% of loan applicants in their 30s have bad credit, and 20% of loan applicants age 40 or greater have bad credit. She also knows that 30% of loan applicants are in their 20s, 50% are in their 30s, and the rest are at least 40 years of age. What percentage of applicants with bad credit are at least 40 years old? Explain the steps you took to determine answer.

A loan officer knows that 50% of loan applicants in their 20s have bad credit, 40% of loan applicants in their 30s have bad credit, and 20% of loan applicants age 40 or greater have bad credit. She also knows that 30% of loan applicants are in their 20s, 50% are in their 30s, and the rest are at least 40 years of age. What percentage of applicants with bad credit are at least 40 years old? Explain the steps you took to determine answer.

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Description: A loan officer knows that 50% of loan applicants in their 20s have bad credit, 40% of loan applicants in their 30s have bad credit, and 20% of loan applicants age 40 or greater have bad credit. She also knows that 30% of loan applicants are in their

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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