Question

an economic research commission claimed that among the 500 stores there are 308 dealing with european companies, 266 dealing with asian companies 103 dealing with both sides regularly and 59 not dealing with either side. i) what is the probability that the stores deal with european or asian companies? ii) what is the probability that the stores do not deal with european companies? iii) what is the probability that the stores only deal with asian companies? iv) what is the probability that stores do not deal with only one type of company

Answer 1

Step-by-step explanation:

Let S be the set of all the stores in the sample, A be the set of stores dealing with Asian companies and E but the set of stores dealing with European companies

i. The set of stores that deal with European or Asian companies is A ∪ E. The inclusion-exclusion principle states that |A ∪ E| = |A| + |E| - |A ∩ E| = 266 + 308 - 103 = 471. So P(A ∪ E) = 471/500 = 0.942

ii. E' = S - E. |S-E| = 500 - 308 = 192. So P(E') = 192/500 = 0.384

iii. |A - E| = |A| - |A ∩ E| = 266 - 103 = 163. So P(A - E) = 163/500 = 0.326

iv. Stores that do not deal with only one type of company, must deal with both Asian and European companies. We are given that |A ∩ E| = 103. So P(A ∩ E) = 103/500 = 0.206

Easy, right?

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