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Question
The probability of an economic decline in the year 2001 is 0.23. There is a probability of 0.64 that we will elect a republican president in the year 2000. If we elect a republican president, there is a 0.35 probability of an economic decline. Let "D" represent the event of an economic decline, and "R" represent the event of election of a Republican president.a. Are "R" and "D" independent events?
b. What is the probability of electing a Republican president in 2000 and an economic decline in the year 2001?
c. If we experience an economic decline in the year 2001, what is the probability that a Republican president will have been elected in the year 2000?
d. What is the probability of economic decline in 2001 or a Republican president elected in the year 2000 or both?
Answer
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