Statisitcs
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62. A company that manufactures video cameras... If you learn that a randomly selected purchaser has an extended warranty, how likely is it that he or she has a basic model?
Please see attached.
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Solution Summary
This problem looks at how likely an event is given another event.
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P(basic model) = 0.4
P(purchase warranty | basic model) = 0.3
P(purchase warranty | deluxe model) = 0.5
Question is P(basic model | purchase warranty ) = ?
we know from:
P(purchase warranty | ...
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