In Years 1 and 2 combined, 3,337,380 motor vehicles were sold in Canada. Year 2 accounted for
Question:
In Years 1 and 2 combined, 3,337,380 motor vehicles were sold in Canada. Year 2 accounted for 1,716,803 of these vehicles. Suppose that those manufactured overseas (outside North America) accounted for 444,070 of the vehicles sold in Year 2. Suppose 325,421 vehicles built overseas were sold in Year 1. A vehicle is randomly selected from this list of motor vehicles.
a. What is the probability that the vehicle was manufactured overseas?
b. What is the probability that the vehicle was sold in Year 2 or manufactured overseas?
c. What is the probability that the vehicle was sold in Year 2 if it is known that the vehicle was manufactured overseas?
d. What is the probability that the vehicle was manufactured overseas if it is known that the vehicle was sold in Year 2?
e. What is the probability that the vehicle was not manufactured overseas if it is known that the vehicle was not sold in Year 2?
f. Given that the vehicle was sold in Year 2, what is the probability that the vehicle was not manufactured overseas?
Step by Step Answer:
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo