Before purchasing a used car, Cody Lind checked www. kbb. com to learn what he should offer for the used car he wanted to buy. Then he conducted a carfax. com search on the car he found to see if the car had ever been in an accident. The Carfax was clean so he
purchased the used car for $14,550. He put $1,300 down and financed the rest with a 36-month, 8,0% loan. What is his monthly car
payment by table lookup? (Use Table 14.2) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Monthly payment

for the points! : )

85.560%

step-by-step explanation:

conditional probability is defined as:

p(a|b) = p(a∩b) / p(b)

in other words, the probability that a occurs, given that b has occurred = the probability that both a and b occur / the probability that b occurs.

in this example:

p(turns 64 | turns 44) = p(turns 64 & turns 44) / p(turns 44).

if someone turns 64, they must have already turned 44, so:

p(turns 64 | turns 44) = p(turns 64) / p(turns 44)

on page 42, we see that of the original 100,000, 94944 turn 44, and 81234 turn 64.   therefore:

p(turns 64 | turns 44) = 81234 / 94944

p(turns 64 | turns 44) = 0.85560