Answered: find the probability that the person…

Math

Probability

find the probability that the person selected a computer stock, given that the person selected a low-risk stock.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

The Merrilee Brokerage House studied two groups of industries (computers and petroleum) and rated them as low risks or high risks, as shown.

Industry	Low	High
Computers	5	10
Petroleum	15	20

If a person selected one of these stocks at random (that is, each stock had probability 1/50 of being selected), find the probability that the person selected a computer stock, given that the person selected a low-risk stock. (Enter your probability as a fraction.)

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