Suppose you are interested in the probability of the sale of a large piece of earth moving equipment. A single prospect is contacted. Let F be the event that the buyer has sufficient money (or credit) to buy the product and let F^c denote the complement of F (the event that the prospect does not have the financial capability to buy the product). Similarly, let B be the event that the buyer wishes to buy the product and let B^c be the complement of that event. Then the four sample points associated with the experiment are shown in Figure 3.15, and their probabilities are given in Table 3.5. Use the sample point probabilities to find the probability that a single prospect will buy, given that the prospect is able to finance the purchase.

Data from Figure 3.15

Data from Table 3.15

Transcribed Image Text:

• BnF • BOF BnF BnF S