all Verizon * 36%)|} 3:15 PM csepub.com # 16 Refer the table below. Our original

Question

all Verizon * 36%)|} 3:15 PM csepub.com # 16 Refer the table below. Our original information was that the probability of High demand was .6. We collected the following new information about what happened to demand when there was an improving or not improving economy. Answer the below question. What is the probability of an improving economy? Improving Not improving economy Economy 0.72 Given high demand Given Low 0.54 emand Unanswered Hide Answer Format: Number: Round to: 2 decimal places. Enter Answer Here... Submit Answer

Explanation / Answer

probability of an inproving economy=P(high demand and imroving economy+low demand and inproving economy)

=0.6*0.72+(1-0.6)*(1-0.54)=0.616~ 0.62

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