In a certain city, 30% of the families have a MasterCard, 20% have an American Express card,
Question:
In a certain city, 30% of the families have a MasterCard, 20% have an American Express card, and 25% have a Visa card. Eight percent of the families have both a MasterCard and an American Express card. Twelve percent have both a Visa card and a MasterCard. Six percent have both an American Express card and a Visa card.
a. What is the probability of selecting a family that has either a Visa card or an American Express card?
b. If a family has a MasterCard, what is the probability that it has a Visa card?
c. If a family has a Visa card, what is the probability that it has a MasterCard?
d. Is possession of a Visa card independent of possession of a MasterCard? Why or why not?
e. Is possession of an American Express card mutually exclusive of possession of a Visa card?
Step by Step Answer:
Let M MasterCard A American Express V Visa P M 30 P A 20 P V 25 P M A 08 P V ...View the full answer
Business Statistics For Contemporary Decision Making
ISBN: 978-1118749647
8th edition
Authors: Black Ken
