The fax machine in an office is very unreliable. If it was working yesterday, there is an 90% chance it will work today. If it was not working yesterday, there is a 5% chance it will work today
(a) What is the probability that it is not working today, if it was not working yesterday?
(b) If it was working yesterday, what is the probability that it is working today?
(a) 0.95
(b) 0.90
You might also like to view...
A truck costs $303,000 and is expected to be driven 115,000 miles during its five-year life
Residual value is expected to be zero. If the truck is driven 29,000 miles during the first year, how much depreciation should the business record under the units-of-production method? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $97,750 B) $25,423 C) $76,270 D) $47,520
Investing in a money market mutual fund is a higher risk than investing in a certificate of deposit because unlike CDs, money market mutual funds _____.
(A) Are not insured by the FDIC. (B) Do not earn a fixed interest rate. (C) Must be held for a preset amount of time. (D) Are not protected by the Securities and Exchange Commission.