The probability that a person has a checking account is 0.74, a saving account is 0.31, and both accounts is 0.25. a. Find the probability that a randomly selected person has a checking account or a saving account. b. Are the two events independent? c. What is the probability that a person has a checking account knowing that this person has a saving account?

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.CR: Chapter 12 Review
Problem 10CR
icon
Related questions
Question

The probability that a person has a checking account is 0.74, a saving account is 0.31, and both accounts is 0.25.

a. Find the probability that a randomly selected person has a checking account or a saving account.

b. Are the two events independent?

c. What is the probability that a person has a checking account knowing that this person has a saving account? 

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning