Joint Probability Problems with Mutually Independent Distributions.
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The probability of Toyota building a new production plant is 70% and the probability of GM building a new one is 50%. The following are the probabilities associated with the countries Toyota would build a new plant:
U.S. .15
Canada .30
Mexico .30
Korea .25
The probabilities associated with the countries GM would build a new plant are:
U.S .10
Canada .60
Mexico .15
Korea .15
What is the probability that both will open a plant in Canada assuming the decisions are mutually statistically independent?
a. 2.1%
b. 6.3%
c. 13.3%
d. 90 %
e. None of the above
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Solution Summary
This solution calculates the probability of Toyota and GM building new plants.
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The answer is B.
The probability that Toyota will open a ...
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