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Exercise 4-19 Algo An analyst thinks that next year there is a 40% chance that the world economy will be good, a 10% 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 World Economy Good Probability of Economic State 0.40 Performance of Creative Ideas Good Neutral 0.10 Neutral Poor Good Neutral Poor Good Neutral POE Conditional Probability of Creative Ideas 0.20 0.30 0.50 0.40 0.10 0.50 0.40 0.40 0.20 Poor 0.50 Dicture 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? (Round 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.) Probability 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