Use the figure to answer the question that follows: PLEASE HELP (20 POINTS)
1 answer:
You might be interested in
Answer:
0.11
Step-by-step explanation:
Probability that house sale will increase = P(A) = 0.25
Probability that interest rate on house loans will go up = P(B) = 0.74
Probability that either house sales will go up or interest rates will go up = P(A or B ) = 0.89
We have to find the probability that neither house sales nor interest rates will increase. This event is the compliment of the event that either house sales will go up or interest rates will go up.
i.e.
Probability that neither house sales nor interest rates will increase =
Using the value of P(A U B), we get:
The probability that neither house sales nor interest rates will increase during the next 6 months is 0.11