The cost price of a car is $60 000. If the marked price is set so as to make a profit of 15%, find the
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Answer:
7/80
Step-by-step explanation:
Given that: P(B) = 7 / 20, P(A|B)= 1 / 4
Bayes theorem is used to mathematically represent the conditional probability of an event A given B. According to Bayes theorem:
Where P(B) is the probability of event B occurring, P(A ∩ B) is the probability of event A and event B occurring and P(A|B) is the probability of event A occurring given event B.