Suppose you have data showing that 40% of tech firms saw their proportion of institutional ownership (IO) increase during the pandemic. When a tech firm's IO increased, their total market capitalization (market cap) increased 70% of the time. Also, 25% of tech firms saw no market cap increase coupled with no increase in IO.

a. What is the probability that a firm saw an increase in market cap if it saw no increase in IO? Provide your answer to the nearest 0.1%.

b. Did an increase in IO and an increase in market cap have an effect on each other? Please explain your conclusion

c. What percentage of tech firms saw an increase in market cap but no increase in IO? Provide your answer to the nearest 0.1%.