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Math Help - Help with Problem

  1. #1
    jmagliaro
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    Help with Problem

    The probability that house sales will increase in the next 6 months is estimated to be 0.30. The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.75. The probability that house sales or interest rates will go up during the next 6 months is estimated to be 0.90.

    What is the probability that both house sales and interest rates will increase during the next 6 months?

    What is the probability that neither house sales nor interest rates will increase during the next 6 months?

    What is the probability that house sales will increase but interest rates will not during the next 6 months?

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  2. #2
    Member Glaysher's Avatar
    Joined
    Aug 2006
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    Newton-le-Willows
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    224
    Quote Originally Posted by jmagliaro View Post
    The probability that house sales will increase in the next 6 months is estimated to be 0.30. The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.75. The probability that house sales or interest rates will go up during the next 6 months is estimated to be 0.90.

    a)What is the probability that both house sales and interest rates will increase during the next 6 months?

    b)What is the probability that neither house sales nor interest rates will increase during the next 6 months?

    c)What is the probability that house sales will increase but interest rates will not during the next 6 months?

    Draw a Venn diagram to help

    a)
    0.9 = 0.3 + 0.75 - p

    p = 0.15

    b)
    p = 1 - 0.9 = 0.1

    c)
    p = 0.3 - 0.15 = 0.15
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