Consider a single randomly selected purchase from a population with the given characteristics.    Food (F) Non food (N) Credit (C) .53 .17 Money (M) .12 .18   a) What is the probability it is a food purchase? b) What is the probability it is a food purchase, if we know it is a credit purchase? c) What is the probability it is a credit purchase, if we know it is a food purchase? d) What is the probability it is a food purchase and a credit purchase?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Consider a single randomly selected purchase from a population with the given characteristics. 

  Food (F) Non food (N)
Credit (C) .53 .17
Money (M) .12 .18

 

a) What is the probability it is a food purchase?

b) What is the probability it is a food purchase, if we know it is a credit purchase?

c) What is the probability it is a credit purchase, if we know it is a food purchase?

d) What is the probability it is a food purchase and a credit purchase?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman