An auditing model correctly predicted bankruptcy of 90% of firms  that in fact did fail and correctly predicted non-bankruptcy of 80% of firms that did not  fail. Besides, the historical data shows that 40% of firms for which the model made its  prediction did fail in the last year.  a/ Find the probability that the model will predict bankruptcy for a firm. b/ Find the probability that a firm will go bankrupt, given that the model has predicted it  will do so.

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A: Given that : Let X be the number of patients who are heavy smokers.X~Binomial( 10, 0.70)

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A: Given : Sample Proportion = p = μp= 0.25 Sample size = n = 340 Standard deviation = σp = p1-pn…