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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:
<em>X</em> = the stock goes up
<em>Y</em> = 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 <em>X</em> and <em>Y</em> 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 <em>A</em> and <em>B </em>is,
Compute the value of P (<em>X ∩ Y</em>) as follows:
Thus, the probability that Joe's stock will go up and he will win in the lottery is 0.00005.