The accompanying table shows, for 1,000 forecasts of earnings per share made by financial analysts, the numbers of forecasts and outcomes in particular categories (compared with the previous year).

a. Find the probability that if the forecast is for a worse performance in earnings, this outcome will result.
b. If the forecast is for an improvement in earnings, find the probability that this outcome fails to result.

Transcribed Image Text:

Forecast Outcome Improvement About the same Worse Improvement 210 106 75 About the Same 82 153 84 Worse 75 149