Statistics Solutions

[See Steps] A mortgage lender that buys mortgages from both prime and sub-prime originators is studying the payment histories of the mortgages it has held

Question: A mortgage lender that buys mortgages from both prime and sub-prime originators is studying the payment histories of the mortgages it has held recently. A random sample of 1,000 mortgage histories is summarized as follows:

Five-Year Payment History

Originator None At Least 2 Late Default

Prime 526 132 21

Sub-Prime 208 79 34

A mortgage is to be randomly selected from this sample. What is the probability that is has shown no late payments over its five-year history?

Price: $2.99
Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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