Answer: 63%
Step-by-step explanation:
First step
Find the 10th year rate of loss that will make the average of loss over the 10 years to equal 38.0%.
Assume this rate is x;
[tex]\frac{(36.2 + 29.0 + 46.2 + 37.5 + 40.9 + 40.0 + 32.6 + 40.5 + 40.1 + x)}{10} = 38.0\\\\\frac{343 + x}{10} = 38\\\\x = 380 - 343\\\\x = 37[/tex]
x = 37%
Second step - Survival rate
The survival rate is calculated by;
= 1 - rate of loss
= 1 - 37%
= 63%
