Question

Of the retail business in a certain city, 40% are currently having a sale, 18% are...

Of the retail business in a certain city, 40% are currently having a sale, 18% are going out of business, and 12% are holding a going out of business sale. If one retail business is chosen at random, what is the probability that:

a.) it is having a sale but is not going out of business

b.) it is not having a sale and it is not going out of business

Math   Statistics-And-Probability   
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Answer #1

Probability of having a sale, P(A) = 0.40

Probability of going out of business, P(B) = 0.18

Probability of going out of business and sale, P(A and B) = 0.12

Probability of going out of business or sale, P(A or B) = P(A) + P(B) - P(A and B)

= 0.40+0.18-0.12 = 0.46

a) Probability of having a sale but not going out of business =

b) Probability of not having a sale and not going out of business =

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