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Each month a brokerage house studies various companies and rates each company's stock as being either low risk or moderate to high risk. In a
Each month a brokerage house studies various companies and rates each company's stock as being either "low risk" or "moderate to high risk." In a recent report, the brokerage house summarized its findings about 28 aerospace companies and 17 food retailers in the following table:
Company Type | Low Risk | Moderate to High Risk |
Aerospace company | 12 | 16 |
Food retailer | 14 | 3 |
If we randomly select one of the total of 45 companies
(a) Find the probability that the company's stock is moderate to high risk given that the firm is an aerospace company. (Round your answer to 4 decimal places.)
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