Wing Foot is a shoe franchise commonly found in shopping centers across the Unit

Question

Wing Foot is a shoe franchise commonly found in shopping centers across the United States. Wing Foot knows that its it unless they gross over $940,000 per year. Let A be the event that a new Wing Foot store grosses over $940,000 the event that a store grosses over $940,000 its second year. Wing Foot has an administrative policy of years. Assume that the accounting office at Wing Foot its first year. Let B be closing a new store if it does not show a profit in either of the first two provided the following information: 59% of all Wing Foot stores show a profit the first profit the second year this includes stores that did not show a profit the first year); however, 81% of Wing Foot stores that year; 75% of all Wing Foot store show a ed a profit the first year also showed a profit the second year. Compute P4 and B, if P)-0.59, P(B)-0.75, and PUBA) -0.81. Round your answer to the nearest hundredth. Select one: O e ? O O a. 0.73 b. 0.53 ?. 0.48 d. 0.81 e. 0.93

Explanation / Answer

P(B | A) = P(A and B) / P(A)

So,

P( A and B) = P(B | A) * P(A)

= 0.81 * 0.59

= 0.48

P( A and B) = 0.48

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