Truly Rich Club's Bo Sanchez advised you that under present economic conditions, a prospective buyer will purchasemining stocks with a probability of 0.60, will purchase food and beverage stocks with a probability of 0.40, and willpurchase both mining and F&B stocks with a probability of 0.15. At this time, find the probability that an investor willpurchase either mining or F&B stocks.

Answered: Image /qna-images/answer/f613729c-336b-4bbc-bc89-a0bd8713a4f0.jpg

Answered: Truly Rich Club's Bo Sanchez advised…

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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Similar questions

Alicia believes that the probability for the stock market to go down is 0.7 given that the economy deteriorates during pandemic covid-19. She also believes that the probability that the economy will deteriorate is 0.5. Based on the information above, what is the probability that the economy will deteriorate and the stock market will go down？
The (hypothetical) table below shows the relationship between the number of hours students work at part-time jobs each week and the number of years it takes then to graduate with an undergraduate degree. If a student works more than 5 hours per week, what is the probability that the student graduates in over 6 years?
Solve using the concept of probability
About two events A and B, we know that A occurs with 32% probability and B with 15% probability. It is also known that both intersect at the same time with a probability of 10%. Examine whether A and B are independent events.
In insurance sector, the customers are categorized as high risk level, medium risk level and low risk level. The probabilities related with high risk level is 0.1, 0.4 for medium risk and 0.5 for low risk level. In one year period a person from low risk level will have an accident with a probability of 0.1, a person from medium risk level will have an accident with a probability of 0.2, a person from high risk level will have an accident with a probability of 0.35. If a person didn't have accident in that year, calculate the probability that a person is from low risk level? Seçtiğiniz cevabın işaretlendiğini görene kadar bekleyiniz. Soruyu boş bırakmak isterseniz işaretlediğiniz seçeneğe tekrar tıklayınız. 15,00 Puan A 0,45 B 0.303 0.05 0.539 Aramak için buraya yazın
You are the webmaster for your firm's website. From your records, you know that the probability that a visitor will buy something from your firm is 0.26. In one day, the number of visitors is 1050. If the visitors' traffic is more than the expected for the day, what is the probability that at least 10 more than the expected visitors will buy something from the firm?
You have relatives coming for dinner this weekend. The probability that your uncle Josiah will show up is 0.69. What is the probability that uncle Josiah doesn't show up? Enter your answer as a decimal, rounded to three decimal places.
Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
According to TMUSS Quarterly (Totally Made-Up Sports Statistics) April 2017, the probability that the Tampa Bay Buccaneers defense will have 3 or more sacks in the game is 0.07. The probability that the Bucs will both score a touchdown on their opening drive and have 3 or more sacks in the game is 0.34. The is the probability that they will either score a touchdown on the opening drive or have 3 or more sacks in the game is 0.20. What is the probability that the Bucs will score a touchdown on their first drive? Answer in decimal form. Round to two decimal places as needed.
You are interested in the number of people that will visit your restaurant in the noon hour. Historically, there is a 10% chance that more than 10 customers will visit, a 30% chance that more than 8 customers will visit, a 50% chance that more than 6 customers will visit, a 80% chance that more than 4 customers will visit, and a 95% chance that at least 2 customers will visit during the noon hour. What is the probability that 4 or less customers will visit the restaurant -- the number required to break even financially for the day?Express your answer as a percent value. So if your answer is 100% for example, enter 100. Round your answer to the nearest percent.
Your favorite team is in the World Series. You have assigned a probability of 63% that they will win the championship. Past records indicate that when teams win the championship, they win the first game of the series 69% of the time. When they lose the championship, they win the first game 22% of the time. The first game is over and your team has lost. What is the probability that they will win the World Series?
According to TMUSS Quarterly (Totally Made-Up Sports Statistics) April 2017, the probability that the Tampa Bay Buccaneers defense will have 3 or more sacks in the game is 0.05. The probability that the Bucs will both score a touchdown on their opening drive and have 3 or more sacks in the game is 0.25. The is the probability that they will either score a touchdown on the opening drive or have 3 or more sacks in the game is 0.25. What is the probability that the Bucs will score a touchdown on their first drive? Answer in decimal form. Round to two decimal places as needed. Your Answer:

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