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    Probability problem

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    The economics department has determined that there is a 30% chance that economy will be strong. Further inquiries reveal that if the stock market is up over the next three months, there is a 50% chance that the economy will be strong, bit if it is down, the chances are only 20%.

    I made a probabilities table:
    strong weak Total
    up 50% 50% 100%
    down 20% 80% 100%
    Total 30% 70% 100%

    © BrainMass Inc. brainmass.com June 3, 2020, 6:56 pm ad1c9bdddf
    https://brainmass.com/business/business-math/probability-inquiries-economy-79874

    Solution Preview

    P(strong)=0.30
    P(Weak)=1-P(strong)=0.70
    Use the following formula to calculate the probability of ...

    Solution Summary

    A formula given for solution and then probabilities computed for you is determined.

    $2.19

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