If two events are mutually exclusive, we know that the probability of their union is the sum of their individual probabilities. However, this is not the case for events that are not mutually exclusive. Verify this assertion by considering the events A and B of Exercise 3.2.
Answer to relevant QuestionsA department store manager has monitored the number of complaints received per week about poor service. The probabilities for numbers of complaints in a week, established by this review, are shown in the following table. Let ...The probability of A is 0.60, the probability of B is 0.40, and the probability of either is 0.76. What is the probability of both A and B? A financial analyst was asked to evaluate earnings prospects for seven corporations over the next year and to rank them in order of predicted earnings growth rates. a. How many different rankings are possible? b. If, in ...It was estimated that 30% of all seniors on a campus were seriously concerned about employment prospects, 25% were seriously concerned about grades, and 20% were seriously concerned about both. What is the probability that a ...A bank classifies borrowers as high risk or low risk. Only 15% of its loans are made to those in the high-risk category. Of all its loans, 5% are in default, and 40% of those in default were made to high-risk borrowers. What ...
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