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Lena772
 one year ago
Wing Foot is a shoe franchise commonly found in shopping centers across the United States. Wing Foot knows that its stores will not show a profit unless they gross over $940,000 per year. Let A be the event that a new Wing Foot store grosses over $940,000 its first year. Let B be the event that a store grosses over $940,00 its second year. Wing Foot has an administrative policy of closing a new store if it does not show a profit in either of the first 2 years. The accounting office at Wing Foot provided the following information: 69% of all Wing Foot stores show a profit the first year
Lena772
 one year ago
Wing Foot is a shoe franchise commonly found in shopping centers across the United States. Wing Foot knows that its stores will not show a profit unless they gross over $940,000 per year. Let A be the event that a new Wing Foot store grosses over $940,000 its first year. Let B be the event that a store grosses over $940,00 its second year. Wing Foot has an administrative policy of closing a new store if it does not show a profit in either of the first 2 years. The accounting office at Wing Foot provided the following information: 69% of all Wing Foot stores show a profit the first year

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Lena772
 one year ago
Best ResponseYou've already chosen the best response.069% of all Wing Foot stores show a profit the second year (this includes stores that did not show a profit the first year); however, 83% of Wing Foot stores that showed a profit the first year also showed a profit the second year. Compute the following. (Enter your answers to four decimal places.)

Lena772
 one year ago
Best ResponseYou've already chosen the best response.0(a) P(A) 0.69 Correct: Your answer is correct. (b) P(B) 0.69 Correct: Your answer is correct. (c) P(B  A) 0.0069 Incorrect: Your answer is incorrect. (d) P(A and B) 0.4761 Incorrect: Your answer is incorrect. (e) P(A or B) 0.4278 Incorrect: Your answer is incorrect. (f) What is the probability that a new Wing Foot store will not be closed after 2 years? 0.5727 Incorrect: Your answer is incorrect. What is the probability that a new Wing Foot store will be closed after 2 years? 0.4273 Incorrect: Your answer is incorrect.

ganeshie8
 one year ago
Best ResponseYou've already chosen the best response.0for part c) P(B  A) means : the probability that profit also occurs in second year, "given that" the profit has occured in first year.

ganeshie8
 one year ago
Best ResponseYou've already chosen the best response.0read below sentence from the question : ` 83% of Wing Foot stores that showed a profit the first year also showed a profit the second year`
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