The probability that a corporation made profits in 2005 is 0.78 and the probability that a corporation made charitable contributions in 2005 is 0.23. assuming that these two events are independent, the probability (rounded to 4 decimal places) that a corporation made profits in 2005 or made charitable contributions in 2005, but not both is:

Question

Mathematics

Beaux

15 June, 17:16

The probability that a corporation made profits in 2005 is 0.78 and the probability that a corporation made charitable contributions in 2005 is 0.23. assuming that these two events are independent, the probability (rounded to 4 decimal places) that a corporation made profits in 2005 or made charitable contributions in 2005, but not both is:

+1

Answers (1)

Know the Answer?

Salvatore Morrison · Answer 1

We know that these two events are independent, therefore:

P (profit and charity) = P (profit) * P (charity)

P (profit and charity) = 0.78 * 0.23 = 0.1794

Then,

P (profit or charity) = P (profit) + P (charity) - P (profit and charity)

P (profit or charity) = 0.78 + 0.23 - 0.1794

P (profit or charity) = 0.8306