Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Feb 2018 My Price 5.00

intention of recalling

42.      A local bank reviewed its credit card policy with the intention of recalling some of its credit cards. In the past approximately 5% of cardholders defaulted, leaving the bank unable to collect the outstanding balance. Hence, management established a prior probability of .05 that any particular cardholder will default. The bank also found that the probability of miss- ing a monthly payment is .20 for customers who do not default. Of course, the probability of missing a monthly payment for those who default is 1.

a.       Given that a customer missed one or more monthly payments, compute the posterior probability that the customer will default.

b.       The bank would like to recall its card if the probability that a customer will default is greater than .20. Should the bank recall its card if the customer misses a monthly pay- ment? Why or why not?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 03 Feb 2018 10:02 PM My Price 5.00

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