Question

The probability that the stock market goes upob Monday is 0.6. Given that it goes up on monday.The probability that it goes up on Tuesday is 0.3.Find the probability that the market will go up on both days.

Answer 1

ANSWER TO QUESTION #84160 – MATH – STATISTICS AND PROBABILITY

Let event M = stock market goes up on Monday

T = stock market goes up on Tuesday

Given probability $\mathrm{P}(\mathrm{M}) = 0.6$

$$\mathrm {P} (\mathrm {T} / \mathrm {M}) = 0. 3$$

We need $P(T\cap M)$ ?

We know that $P(T / M) = \frac{P(T \cap M)}{P(M)}$ .

$$\Rightarrow P (T \cap M) = P (M) P (T / M) = 0. 6 \times 0. 3 = 0. 1 8.$$

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