More than 40 million Americans are estimated to have at leastone outstanding student loan to help pay college expenses (\"40Million Americans Now Have Student Loan Debt\", CNNMoney,September 2014). Not all of these graduates pay back their debt insatisfactory fashion. Suppose that the following joint probabilitytable shows the probabilities of student loan status and whether ornot the student had received a college degree. If needed, roundyour answers to three decimal digits.
| College Degree | |
| | Yes | No | |
Loan
Status | Satisfactory | 0.38 | 0.24 | 0.62 |
| Delinquent | 0.16 | 0.22 | 0.38 |
| 0.54 | 0.46 | |
| (a) | What is the probability that a student with a student loan hadreceived a college degree? |
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| (b) | What is the probability that a student with a student loan hadnot received a college degree? |
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| (c) | Given that the student has received a college degree, what isthe probability that the student has a delinquent loan? |
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| (d) | Given that the student has not received a college degree, whatis the probability that the student has a delinquent loan? |
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| (e) | What is the impact of dropping out of college without a degreefor students who have a student loan? |
| - Select your answer -ObtainingNot obtainingItem 5Â Â acollege degree will lead to a greater probability of struggling topayback the student loan and will likely lead to financial problemsin the future. |
