For events A, B, and C, explain why P(A and B and C) = P(A) × P(B |A) × P(C | A and B).
Answer to relevant QuestionsSuppose we know P(A),P(B | A), and P(Bc | Ac), but we want to find P(A | B). a. Using the definition of conditional probability for P(A | B) and for P(B | A), explain why P(A | B) = P(A and B)/P(B) = [P(A)P(B | A)]/P(B). b. ...The business you started last year as only $5000 left in capital. A week from now you need to repay a $10,000 loan or you will go bankrupt. You see two possible ways to raise the money you need. You can ask a large company ...Your friend decides to flip a coin repeatedly to analyze whether the probability of a head on each flip is 1/2. He flips the coin 10 times and observes a head 7 times. He concludes that the probability of a head for this ...Table 5.3 on audit status and income follows. Show how to find the probability of: a. Being audited, given that the taxpayer is in the lowest income category. b. Being in the lowest income category, given that the taxpayer ...Are people happy in their marriages? The table shows results from the 2008 General Social Survey for married adults classified by gender and level of happiness. a. Estimate the probability that a married adult is very ...
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