Basic rules:P(A) and P(B) = P(A)*P(B)P(A) or P(B) = P(A) + P(B)

Suppose that a certain movie company has generated three movies per year over many years and has spent an average of about $150 million (in current dollar value) to produce, market, and distribute what it considers its high budget movies, spends about $100 million for its moderate budget movies, and about $30 million for its lowest budget movies. Each year it produces one of each budget-level movie. However, it does not know which type of movie will be successful before its release. About one third of the movies are successful and return to the company three times the cost investment. About one third of the movies break even. About one third of the movies experience a loss and return about 80% of the cost investment to the company. The company will never know in advance which movie will be accepted by its viewing audience into which acceptance category, as historically all types have an equal probability of success, failure, or break even. 16 points total 1- If the company releases a high budget movie for $2.00 million, what is the probability that it will be successful. 2 pts- 2- If the company releases a moderate budget movie, what is the probability that it will be either successful or break even. 2 pts. 3. If the company releases a low budget movie, what is the probability that it will not be successful. 2 pts. 4. What is the probability that all three movies released will be successful. 2 pts. 5. What is the probability that all three movies will not break even. 2 pts. 6. If the company releases a high budget movie for $150 million cost, a moderate budget movie for $100 million cost, and a low budget movie for $80 million cost, then what is the probable approximate prot or loss- 6 pts