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Anuta_ua [19.1K]
2 years ago
8

According to a survey of American households: The probability that a household owns 2 cars, if annual income is over $25,000, is

0.80. Of the households surveyed, 60% had an income over $25,000. Of the households surveyed, 70% had 2 cars. Given your answers to #6 and #7, what is the probability that a household owns 2 cars AND has an income of greater than $25,000 a year
Business
1 answer:
vladimir1956 [14]2 years ago
8 0

Answer: 0.48

Explanation:

P(A/B) = P(AnB)/P(B) where:

P(A/B) = The probability of event A occurring given that B has occurred.

P(AnB) = The probability of both events A and B occurring.

P(B) = the probability that event B occurs.

So let

P(A) = Probability that the residents of a household own 2 cars.

P(B) = Probability that the annual household income is greater than $25,000.

The question tells us that

P(A/B) = 0.8

Note that: P(A) = 0.7, P(B) = 0.6.

Since we want to work out P(AnB), because it gives the probability that residents have an annual household income over $25,000 and own 2 cars.

We would Rearrange our initial equation to make P(AnB) the subject formula becoming;

P(A/B) = P(AnB)/P(B)

P(B)*P(A/B) = P(AnB)

So, inserting our probabilities into this equation gives:

0.6*0.8 = 0.48

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4 0
3 years ago
Why is china australia's main trading partner
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The reason for this is because they have developed a two way investment relationship. They also have conducted a free trade agreement. China is importing goods from Australia because they need Coal and Oil and Australia provides them with their needs and wants.
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Enlightened carmakers hired women designers, engineers, and marketing executives to better understand the way women decide to bu
attashe74 [19]

Answer:

\boxed{\bold{Most \ women \ dislike \ the \ car-buying \ experience.}}

Explanation:

➤ Most women dislike the car-buying experience

The reason that the enlightened carmakers might have hired women in the first place was to better understand the way women decide to buy cars. From this, we can conclude that trying to sell a woman a car is not very easy. In order to get inside the women's head and think like that women does, they need to hire one of their kind, which is a woman. A woman understands a woman and can better sell the car to them because they know what the woman wants, feels, likes and dislikes.

- Mordancy

6 0
3 years ago
Perpetuities are also called annuities with an extended or unlimited life. Based on your understanding of perpetuities, answer t
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Answer:

The current value of a perpetuity is based more on the discounted value of its nearer (in time) cash flows and less by the discounted value of its more distant (in the future) cash flows.

Explanation:

The perpetuities can becalculate as follow

C/rate = Perpetuities

the reasoning behind this formula:

C * \frac{1-(1+r)^{-time} }{rate} = PV\\

If we calculate limit whe ntime is infite,

because at more time 1 + r gets closer and closer to 0

we get on the dividend

1 - 0

So we have C x 1/i = C/i

Next part would be why the first cash flow is more relevant than the subsequent cash flow:

\frac{Principal}{(1 + rate)^{time} } = PV

Here if time increases, then the divisor get closer to ∞ so we have

P ( a constant) /∞ = 0

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8 0
3 years ago
Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Pro
blsea [12.9K]

Answer:

$160,600

Explanation:

The computation of the cost of goods manufactured is shown below:

= Direct material cost + direct labor cost + manufacturing cost applied + beginning work in process - ending work in process

= $58,600 + $33,400 + $54,600 + $40,000 - $26,000

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Hence, the cost of goods manufactured for June is $160,600

8 0
2 years ago
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