In examining borrower characteristics versus loan delinquency, a bank has collected the following information: (1) 15% of
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a. What is the probability that a randomly selected loan account will be for a person in the same job for at least 3 years who is behind in making payments?
b. What is the probability that a randomly selected loan account will be for a person in the same job for less than 3 years or who is behind in making payments?
c. If a loan account is behind, what is the probability that the loan is for a person who has been in the same job for less than 3 years?
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