Question

University DataReceivingNot ReceivingFinancial AidFinancial AidUndergraduates42223898Graduates1879731What is the probability that a given student is onfinancial aid, given that he or she is a graduate?P(Financial Aid LG

Answer 1

Step-by-step explanation:

Given;

We are given a table showing the total number of undergraduates as well as total number of graduates. The table also shows the total number of students receiving financial aid and those not receiving it.

Required;

We are required to find the probability that a student is on financial aid, given that he or she is a graduate.

Step-by-step solution;

What we have here is conditional probability. That is, to find the probability that an event will occur given that another has already occurred.

The formula for calculating this is;

`P[A|B]=(P(A\cap B))/(P[B])`

That is probability of event A given event B.

The probability that a student is a graduate is;

`\begin{gathered} Graduates=1879+731 \\ \\ Graduate=2610 \end{gathered}`

The probability of "FINANCIAL AID and GRADUATE" is 1,879.

Therefore, the probability that a student will be on financial aid given that he or she is a graduate is;

`\begin{gathered} P[financial\text{ }aid|Graduate]=\frac{P[financial\text{ }aid\cap graduate]}{P[graduate]} \\ \\ =(1879)/(2610) \\ \\ =0.719923371648 \end{gathered}`

Rounded to the nearest hundredth we now have;

ANSWER:

`P[Financial\text{ }Aid|Graduate]=0.72`