At a theme park, the admission price for children is $7 and the admission price for adults is $21. The total amount the theme pa
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Using conditional probability, it is found that there is a 0.035 = 3.5% probability that a hospital patient has both Medicare and Medicaid.
<h3>What is Conditional Probability?</h3>- <em>Conditional probability</em> is the <u>probability of one event happening, considering a previous event</u>. The formula is:
In which
- P(B|A) is the probability of event B happening, given that A happened.
is the probability of both A and B happening.
- P(A) is the probability of A happening.
In this problem, the events are:
- Event A: Patient has Medicare.
- Event B: Patient has Medicaid.
For the probabilities, we have that:
- 35% of the patients have Medicare, hence
.
- Of those who have Medicare, there is a 10% chance they also have Medicaid, hence
.
Then, applying the <em>conditional </em>probability:
0.035 = 3.5% probability that a hospital patient has both Medicare and Medicaid.
You can learn more about conditional probability at brainly.com/question/14398287