According to a survey of Lebanese households, the probability that the residents own 2 cars if annual household income is over $50,000 is 80%. Of the households surveyed, 60% had incomes over $50,000 and 70% had 2 cars.
a. The probability that a household owns 2 cars and has an income over $50,000 a year is? Interpret the result. b. The probability that a household does not own 2 cars and has an income over $50,000 a year is? Interpret the result. c. The probability that annual household income is over $50,000 if a household owns 2 cars is? Interpret the result. d. The probability that annual household income is over $50,000 if a household does not own 2 cars is? Interpret the result.
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Answer:
P(owns 2 cars annual income is greater than 8 lakhs ) = 0.75
P(annual income is greater than 8 lakhs) = 0.60
P(2 cars) = 0.52
P(owns 2 cars and annual income is greater than 8 lakhs) = 0.75 x 0.60 = 0.45
Explanation:
P(owns 2 cars annual income is greater than 8 lakhs ) = 0.75
P(annual income is greater than 8 lakhs) = 0.60
P(2 cars) = 0.52
P(owns 2 cars and annual income is greater than 8 lakhs) = 0.75 x 0.60 = 0.45
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