Each month, a brokerage house studies various companies and rates each company's stock as being either "low risk" or "moderate to high risk." In a recent report, the brokerage house summarized its findings about 33 aerospace companies and 42 food retailers in the following table:
Company Type
Low Risk
Moderate to High Risk
Aerospace company
17
16
Food retailer
18
24
If we randomly select one of the total of 75 companies:
(a) Find the probability that the company's stock is moderate to high risk given that the firm is an aerospace company. (Round your answer to 4 decimal places.)
(b) Find the probability that the company's stock is moderate to high risk given that the firm is a food retailer. (Round your answer to 4 decimal places.)
(c) Determine if the company type is independent of the level of risk of the firm's stock. (Round your answers to 4 decimal places.)