SOLVED: An auditing model correctly predicted bankruptcy of 90% of firms that actually failed and correctly predicted non-bankruptcy of 80% of firms that did not fail. Additionally, historical data shows that 30% of firms for which the model made its prediction did fail in the last year.a/ Find the probability that the model will predict bankruptcy for a firm.b/ Find the probability that a firm will go bankrupt, given that the model has predicted it will do so.
SOLVED: An auditing model correctly predicted bankruptcy of …
Oct 22, 2021
numerade.com
An auditing model correctly predicted bankruptcy for 90% of firms that actually failed and correctly predicted non-bankruptcy for 80% of firms that did not fail. Additionally, historical data shows that 30% of firms for which the model made predictions actually failed in the last year. a/ Find the probability that the model will predict bankruptcy for a firm.b/ Find the probability that a firm will go bankrupt, given that the model has predicted it will do so.
An auditing model correctly predicted bankruptcy for 90% of fi…
Oct 30, 2021
numerade.com
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