Question
Of the drivers who stop at a gas station, 92% purchase gasoline, and 5% purchase both gasoline and oil. A total of 7% purchase oil.
Of the drivers who stop at a gas station, 92% purchase gasoline, and 5% purchase both gasoline and oil. A total of 7% purchase oil.
(a) What is the probability that a driver purchases oil, given that he or she purchases gasoline? Round your answer to 2 decimal places.
(b) What is the probability that a driver purchases gasoline, given that he or she purchases oil? Round your answer to 2 decimal places.
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
