Using the given table, estimate: a. Conditional probability that your business w
ID: 3059147 • Letter: U
Question
Using the given table, estimate:a. Conditional probability that your business will thrive if the economy turns out to be a disaster and the conditional probability that your business will thrive if the economy turns out to be fair
b. The joint probability of a bad economy and that your business thrives
c. Given the fact that your business prospered, what is the probability that the economy was a disaster? Posibilidades de que su negocio prospere Posibilidades Economia de PR dentro 1 año Excelentes Buenas Aceptables Regular Mala Desastre 0.2 0.4 0.4 0.6 0.5 0.3 0.2 0.3 0.4 0.2 0.2 0.3
Explanation / Answer
Using the given table, estimate:a. Conditional probability that your business will thrive if the economy turns out to be a disaster and the conditional probability that your business will thrive if the economy turns out to be fair
b. The joint probability of a bad economy and that your business thrives
c. Given the fact that your business prospered, what is the probability that the economy was a disaster? Posibilidades de que su negocio prospere Posibilidades Economia de PR dentro 1 año Excelentes Buenas Aceptables Regular Mala Desastre 0.2 0.4 0.4 0.6 0.5 0.3 0.2 0.3 0.4 0.2 0.2 0.3
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