Question

Market research in a particular city indicated that during a week, $18 \%$ of all adults watch a television program oriented to business and financial issues, $12 \%$ read a publication oriented to these issues, and $10 \%$ do both. a. What is the probability that an adult in this city who watches a television program oriented to business and financial issues reads a publication oriented to these issues? b. What is the probability that an adult in this city who reads a publication oriented to business and financial issues watches a television program oriented to these issues?

Name: Problem 42, Chapter 3: Statistics for Business and Economics
Uploaded: 2021-12-26T14:06:52-08:00
Duration: 1 min 54 s
Channel: Christopher Stanley

   Market research in a particular city indicated that during a week, $18 \%$ of all adults watch a television program oriented to business and financial issues, $12 \%$ read a publication oriented to these issues, and $10 \%$ do both.
a. What is the probability that an adult in this city who watches a television program oriented to business and financial issues reads a publication oriented to these issues?
b. What is the probability that an adult in this city who reads a publication oriented to business and financial issues watches a television program oriented to these issues?

Statistics for Business and Economics

Paul Newbold,… 8th Edition

Chapter 3, Problem 42

Instant Answer

Solved by Expert Christopher Stanley

12/26/2021

Step 1

18, the probability of reading (R) is 0.12, and the probability of both watching TV and reading (TV ∩ R) is 0.10. Show more…

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Market research in a particular city indicated that during a week, $18 \%$ of all adults watch a television program oriented to business and financial issues, $12 \%$ read a publication oriented to these issues, and $10 \%$ do both. a. What is the probability that an adult in this city who watches a television program oriented to business and financial issues reads a publication oriented to these issues? b. What is the probability that an adult in this city who reads a publication oriented to business and financial issues watches a television program oriented to these issues?

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Key Concepts

Conditional Probability

This concept refers to the likelihood of an event occurring given that another event has already occurred. It is calculated by taking the probability of both events happening and dividing it by the probability of the conditioning event.

Joint (Intersection) Probability

This is the probability that two events occur simultaneously. It quantifies the overlap between the two events in a probability space and is essential for computing conditional probabilities.

Marginal Probability

Marginal probability is the probability of an event occurring on its own, regardless of other events. It serves as the baseline measure, particularly useful when it is used as the denominator in conditional probability calculations.

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