Question

Joe owns a stock which has probability .5 of going up. This morning, he bought a ticket in a lottery game which gives him a probability .0001 of winning. What is the probability that Joe's stock will go up and he will win in the lottery

Answer 1

Answer:

0.00005

Step-by-step explanation:

All you would have to do is .5 * .0001 which gives you .00005

Answer 2

Answer:

The probability that Joe's stock will go up and he will win in the lottery  is 0.00005.

Step-by-step explanation:

Let the events be denoted as:

X = the stock goes up

Y = Joe wins the lottery

Given:

P (X) = 0.50

P (Y) = 0.0001

The events of the stock going up is not dependent on the the event of Joe winning the lottery.

So the events X and Y are independent of each other.

Independent events are those events that can occur together at the same time.

The joint probability of two independent events A and B is,

$P(A\cap B)=P(A)\times P(B)$

Compute the value of P (X ∩ Y) as follows:

$P(X\cap Y)=P(X)\times P(Y)=0.50\times 0.0001=0.00005$

Thus, the probability that Joe's stock will go up and he will win in the lottery  is 0.00005.