Q1. More than 40 million Americans are estimated to have at least one outstanding student loan to help pay college expenses (40 Million Americans Now Have Student Loan Debt, CNNMoney, September 2014). Not all of these graduates pay back their debt unsatisfactory fashion. Suppose that the following joint probability table shows the probabilities of student loan status and whether or not the student had received a college degree.

		College Degree
		Yes	No
Loan	Satisfactory	0.26	0.24	0.5
Status	Delinquent	0.16	0.34	0.5
		0.42	0.58

a. What is the probability that a student with a student loan had received a college degree?

b. What is the probability that a student with a student loan had not received a collegedegree?

c. Given that the student has received a college degree, what is the probability that thestudent has a delinquent loan?

d. Given that the student has not received a college degree, what is the probability thatthe student has a delinquent loan?

e. What is the impact of dropping out of college without a degree for students whohave a student loan?