The probability a randomly selected household owns corporate stock is 0.54. The probability a randomly selected household has no Internet ac

Question

The probability a randomly selected household owns corporate stock is 0.54. The probability a randomly selected household has no Internet access is 0.3. Assume whether a randomly selected household owns corporate stock is independent of whether the household has no Internet access. What is the probability a randomly selected household has no Internet access given the household owns corporate stock

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Alexandra 4 weeks 2021-09-21T14:57:03+00:00 1 Answer 0

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    2021-09-21T14:58:20+00:00

    Answer:

    30% probability a randomly selected household has no Internet access given the household owns corporate stock

    Step-by-step explanation:

    I am going to say that we have two events.

    Event A: Owning corporate stock. So P(A) = 0.54.

    Event B: Having no internet access. So P(B) = 0.3.

    Since they are independent events, we can apply the conditional probability formula, which is:

    P(B|A) = \frac{P(A \cap B)}{P(A)}

    In which

    P(B|A) is the probabilitty of event B happening given that A happened. We want to find this.

    P(A \cap B) is the probability of both events happening.

    Since they are independent

    P(A \cap B) = P(A)P(B) = 0.54*0.3

    So

    P(B|A) = \frac{P(A \cap B)}{P(A)} = \frac{0.54*0.3}{0.54} = 0.3

    30% probability a randomly selected household has no Internet access given the household owns corporate stock

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