The Easy Credit Company reports the following table representing a breakdown of customers according to the amount
Question:
a. What is the probability that a customer received a cash advance?
b. What is the probability that a customer owed less than $200 and received a cash advance?
c. What is the probability that a customer owed less than $200 or received a cash advance?
d. Given that a customer received a cash advance, what is the probability that the customer owed $1,000 or more?
e. Given that a customer owed $1,000 or more, what is the probability that the customer received a cash advance?
f. Are the events "receiving a cash advance" and "owing $1,000 or more" mutually exclusive?
Explain using probabilities.
g. Are the events "receiving a cash advance" and "owing $1,000 or more" independent? Explain using probabilities.
Step by Step Answer:
Business Statistics Communicating With Numbers
ISBN: 9780078020551
2nd Edition
Authors: Sanjiv Jaggia, Alison Kelly