Suppose that a survey of small companies showed that 42% offer retirement plans, 61% offer life insurance,
Question:
Suppose that a survey of small companies showed that 42% offer retirement plans, 61% offer life insurance, and 33% offer both retirement plans and life insurance as benefits. If a small company is randomly selected, determine the following probabilities:
a. The company offers a retirement plan given that it offers life insurance.
b. The company offers life insurance given that it offers a retirement plan.
c. The company offers life insurance or a retirement plan.
d. The company offers a retirement plan and does not offer life insurance.
e. The company does not offer life insurance if it is known that it offers a retirement plan.
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Let R retirement Let L life insurance P R 42 P L 61 P R L 3...View the full answer
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Related Book For 
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo
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