a) If it is known that a company is in the financial industry, what is the probability that it operates in the informal sector? (3)
b) If it is known that a company is not in the financial industry, what is the probability that it operates in the informal sector? (4)
c) What conclusion can be drawn by comparing the answers in a) and b)
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Answer:
Probability of formal sector = 0.03+0.24 = 0.27
Probability of informal sector = 0.17+0.56 = 0. 73
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