Economic globalization is defined as the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. Although globalization is generally viewed favorably, it also increases the vulnerability of a country to economic conditions of the other country. An economist predicts a 60% chance that country A will perform poorly and a 25% chance that country B will perform poorly. There is also a 16% chance that both countries will perform poorly.

A). What is the probability that country A performs poorly given that country B performs poorly?

B). What is the probability that country B performs poorly given that country A performs poorly?

C). Interpret your findings.

Answer rating: 100% (QA)

Let A be an event that country A will perform poorly and B be an event that country B will perform p... View the full answer