The loan default rate at a certain bank is 1%. The bank has developed a model...

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The loan default rate at a certain bank is 1%. The bank has developed a model to try to predict which loans will default. The model's predicted positive rate is 3%; 99% of the loans that default are predicted as such by the model. If a model predicts that a loan will default, what is the probability that it will actually default? Submit the answer as a whole percent (e.g. "80%"). The loan default rate at a certain bank is 1%. The bank has developed a model to try to predict which loans will default. The model's predicted positive rate is 3%; 99% of the loans that default are predicted as such by the model. If a model predicts that a loan will default, what is the probability that it will actually default? Submit the answer as a whole percent (e.g. "80%").