Mathematics, 12.02.2020 05:46 aylorcadence
Wing Foot is a particular shoe franchise knows that its stores will not show a profit unless they gross over $940,000 per year. Let A be the event that a new store grosses over $940,000 its first year. Let B be the event that a store grosses over $940,00 its second year. The franchise has an administrative policy of closing a new store if it does not show a profit in either of the first 2 years. The accounting office at the franchise provided the following information: 67% of all the franchise stores show a profit the first year; 69% of all the franchise stores show a profit the second year (this includes stores that did not show a profit the first year); however, 85% of the franchise stores that showed a profit the first year also showed a profit the second year. Compute the following. (Use 2 decimal places.)(a) P(A).(b) P(B).(c) P(B | A).(d) P(A and B).(e) P(A or B).(f) What is the probability that a new Wing Foot store will not be closed after 2 years?What is the probability that a new Wing Foot store will be closed after 2 years?
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Wing Foot is a particular shoe franchise knows that its stores will not show a profit unless they gr...
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