Question
The probability that a household has a cat is 55%. Sixty percent of all households have a dog. Further, it is known that 25% of
The probability that a household has a cat is 55%. Sixty percent of all households have a dog. Further, it is known that 25% of all households have both a cat and a dog. If a household is randomly selected, what is the probability that they have a cat or a dog?If a household is randomly selected and is known to have a dog, what is the probability that they also have a cat?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
