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plying the Concepts- Intermediate 3.113 Appeals of federal civil trials. The Journal of the American Law and Economics Association (Vol. 3, 2001) published the results

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plying the Concepts- Intermediate 3.113 Appeals of federal civil trials. The Journal of the American Law and Economics Association (Vol. 3, 2001) published the results of a study of appeals of federal civil trials. The following table, extracted from the article, gives a breakdown of 2, 143 civil cases that were appealed by either the plaintiff or the defendant. The outcome of the appeal, as well as the type of trial (judge or jury), was determined for each civil case. Suppose one of the 2,143 cases is selected at random and both the outcome of the appeal and type of trial are observed. Jury Judge Totals Plaintiff trial win-reversed 194 71 265 Plaintiff trial win- affirmed/ dismissed 429 240 669 Defendant trial win-reversed 111 68 179 Defendant trial win- affirmed/ dismissed 731 299 1,030 Totals 1,465 678 2, 143 a. Find P ( A ), where A = { jury trial }. b. Find P ( B ), where B = (plaintiff trial win is reversed}. C. Are A and B mutually exclusive events? d. Find P ( Ac ). e. Find P ( AUB). f. Find P ( An B). 3.114 Characteristics of a new product. The long-run success of a business depends on its ability to market products with superior characteristics that maximize consumer satisfaction and that give the firm a competitive advantage (Kotler & Keller, Marketing 17

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