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An analyst thinks that next year there is a 20% chance that the world economy will be good, a 30% chance that it will be
An analyst thinks that next year there is a 20% chance that the world economy will be good, a 30% chance that it will be neutral, and a 50% chance that it will be poor. She also predicts probabilities that the performance of a start-up firm, Creative Ideas, will be good, neutral, or poor for each of the economic states of the world economy. The following table presents probabilities for three states of the world economy and the corresponding conditional probabilities for Creative Ideas. State of the Probability of Performance of Conditional Probability World Economy Economie state Creative Ideas of Creative Ideas Good 0.20 Neutral 0.60 Poor 0.10 Neutral 0.30 Neutral Good 0.30 Good Poor 0.50 Poor Good Neutral Poor 0.50 0.40 0.10 0.60 0.30 0.10 mediatexcel sog'l. Click here for the Excel Data Elle a. What is the probability that the performance of the world economy will be neutral and that of creative ideas will be poor? (Round your answer to 2 decimal places.) Probability emediarillexcel.png% Click here for the Excel Data File a. What is the probability that the performance of the world economy will be neutral and that of creative ideas will be poor? (Roun your answer to 2 decimal places.) Probability b. What is the probability that the performance of Creative Ideas will be poor? (Round your answer to 2 decimal places.) Probably c. The performance of Creative Ideas was poor. What is the probability that the performance of the world economy had also been poor? (Round your answer to 2 decimal places.) Probability
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