A university wants to examine the effect of financial aid on graduation rate. Among the students,...
A university wants to examine the effect of financial aid on graduation rate. Among the students, 90% of them graduate with a bachelor degree. For those who graduate, 75% of them receive financial aid. For those who do not graduate, 50% of them receive financial aid. For those who receive financial aid, what is the probability that they graduate?
Homework Answers
P(receive financial aid) = 0.75 * 0.9 + 0.5 * (1 - 0.9) = 0.725
P(graduate | receive financial aid) = P(receive financial aid | graduate) * P(graduate)/P(receive financial aid)
= (0.75 * 0.9)/0.725 = 0.93103
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