In a certain year, the probability that a person in the United States would declare personal bankruptcy was 0.006. The probability that a person in the United States would declare personal bankruptcy and had recently experienced a "big three" event (loss of job, medical problem, or divorce or separation) was 0.004. What was the probability that a person had recently experienced one of the "big three" events, given that she had declared personal bankruptcy? (Round your answer to four decimal places.)
In a certain year, the probability that a person in the United States would declare personal bankruptcy was 0.006. The probability that a person in the United States would declare personal bankruptcy and had recently experienced a "big three" event (loss of job, medical problem, or divorce or separation) was 0.004. What was the probability that a person had recently experienced one of the "big three" events, given that she had declared personal bankruptcy? (Round your answer to four decimal places.)
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
Related questions
Question
In a certain year, the probability that a person in the United States would declare personal bankruptcy was 0.006. The probability that a person in the United States would declare personal bankruptcy and had recently experienced a "big three" event (loss of job, medical problem, or divorce or separation) was 0.004. What was the probability that a person had recently experienced one of the "big three" events, given that she had declared personal bankruptcy? (Round your answer to four decimal places.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.Recommended textbooks for you
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…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
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…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning