Please explain in detail I do not understand how the answer came about The checking accounts of Sun Bank are categorized by the age of account and the accountbalance. Auditors will select accounts at random from the following 1000 accounts (numbers in the table are the number of accounts in each category):Problems 55Account BalanceAge of the Account 0–$499 $500–$999 $1000 or MoreLess than 2 years 120 240 902 years or more 75 275 200f. What is the probability that an account is at least 2 years old given that the balance is$500–$999?

Please explain in detail I do not understand how the answer came about The checking accounts of Sun Bank are categorized by the age of account and the accountbalance. Auditors will select accounts at random from the following 1000 accounts (numbers in the table are the number of accounts in each category):Problems 55Account BalanceAge of the Account 0–$499 $500–$999 $1000 or MoreLess than 2 years 120 240 902 years or more 75 275 200f. What is the probability that an account is at least 2 years old given that the balance is$500–$999?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter12: Money And Banking

Section: Chapter Questions

Problem 10E

See similar textbooks

Similar questions

What are some ways that someone looking for a loan might reassure a bank that is faced with imperfect information about whether the borrower will repay the loan?
Investors sometimes fear that a high-risk investment is especially likely to have low returns. Is this fear true? Does a high risk mean the return must be low?
What life cycle cost concept begins raising concerns by year 5 with any electric vehicle (EV)? If that issue affected resale value at year 5, would that affect perceived value-in-use? How exactly?
If a government gains from unexpected inflation when it borrows, why would it choose to offer indexed bands?
What is deflation?
What is a dividend?
A mortgage 105m is a loan that a person makes to purchase a house. Table 19.11 provides a list of the mortgage interest rate for several different years and the rate of inflation for each of those years. In which years would it have been better to be a person borrowing money from a bank to buy a home? In which years would it have been better to be a bank lending money?
What is a capital gain?
What are the two key choices U.S. citizens need to make that determines their relative wealth?
When do firms receive money from a stock sale in their firm and when do they not receive money?
Which has a higher average return over time: stocks, bands, or a savings account? Explain your answer.
The Darkroom Windowshade Company has 100,000 shares of stock outstanding. The investors in the firm awn the following numbers of shares: investor 1 has 20,000 shares; investor 2 has 18,000 shares; investor 3 has 15,000 shares; investor 4 has 10,000 shares; investor 5 has 7,000 shares; and investors 6 through 11 have 5,000 shares each. What is the minimum number of investors it would take to vote to change the companys top management? If investors I and 2 agree to vote together, can they be certain of always getting their way in how the company will he run?