in the study of the consumer\'s view of the economy, the probability that a cons

Question

in the study of the consumer's view of the economy, the probability that a consumer would buy a house during the year was 0.013, and the probability that a consumer would buy a car during the year was 0.198. There was also a 0.010 probability that a consumer would buy a house and a car during the year. 1) what is the probability that a consumer would buy either a car or a house or both during the year?
2) what is the probability that a consumer would buy a car during the year given that the consumer purchase a house during the year? in the study of the consumer's view of the economy, the probability that a consumer would buy a house during the year was 0.013, and the probability that a consumer would buy a car during the year was 0.198. There was also a 0.010 probability that a consumer would buy a house and a car during the year. 1) what is the probability that a consumer would buy either a car or a house or both during the year?
2) what is the probability that a consumer would buy a car during the year given that the consumer purchase a house during the year? in the study of the consumer's view of the economy, the probability that a consumer would buy a house during the year was 0.013, and the probability that a consumer would buy a car during the year was 0.198. There was also a 0.010 probability that a consumer would buy a house and a car during the year. 1) what is the probability that a consumer would buy either a car or a house or both during the year?
2) what is the probability that a consumer would buy a car during the year given that the consumer purchase a house during the year?

Explanation / Answer

Let

H = buys a house
C = buys a car

1)

P(C U H) = P(C) + P(H) - P(C n H) = 0.013 + 0.198 - 0.010 = 0.201 [ANSWER]

*****************

2)

P(C|H) = P(C n H) / P(H) = 0.010/0.013 = 0.769230769 [answer]

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