Question
I have been given the below problem to which i need to create a Ven Diagram and Lang's Text Venture Table from. I am struggling
I have been given the below problem to which i need to create a Ven Diagram and Lang's Text Venture Table from. I am struggling to fully grasp where I should be placing each of these numbers when building the diagram and table and how I should be calculating any missing information.
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As he drove home in his red Ford Mustang, Mark Lang reminisced on the success story of his doortodoor accounting text venture.He was still amazed that he could have accumulated such a fortune selling only two books:Financial Accounting for Fun and ProfitandThe Joy of Managerial Accounting.His conspicuously attired salespeople sporting their characteristic green eyeshades were remarkably adept at marketeering.Indeed, fully 45 percent of his customers bought the financial accounting text, 35 percent bought the managerial accounting text, and 25 percent bought both.
a)What is the probability that exactly one book is sold to a customer?
b)What is the probability that no book is sold?
c)Given that the managerial accounting book is sold, what is the probability that the financial accounting book is sold?
d)Given that the managerial accounting book is not sold, what is the probability that the financial accounting book is sold?
e)Are the events of selling a financial or a managerial accounting book dependent or independent?
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