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Use the same information from Part 1 (the grocery store example) to answer the following questions:...

Use the same information from Part 1 (the grocery store example) to answer the following questions:

  1. Explain in words the business meaning of P(W | D).
  1. What is the value of P(W | D)?
  1. What is the value of P(D | W)?
  1. Are events D and W independent? Explain why or why not using the probability formula.
  1. Are events S and W mutually exclusive?
  1. What is P(S ∩ W)?
  1. What is P(S | W)?
  1. Are events S and W independent? Explain why or why not.
  1. What general conclusion can you make about mutually exclusive events and independent events given the results of this problem?

In Maladia, many people go without health insurance. The following table shows the population in different age groups in Maladia with and without health insurance.

Health Insurance

Age

Yes (H)

No (HC)

Totals

40 and under (Y)

800,000

200,000

Over 40 (YC)

1,000,000

250,000

Totals
  1. Use the Cross-Tabulation to complete the Joint Probability Table below:

Health Insurance

Age

Yes (H)

No (HC)

Totals

40 and under (Y)

Over 40 (YC)

Totals
  1. What is the probability that a randomly selected person in Maladia has health insurance?

P(H) =

  1. Given that a person in Maladia is age 40 and under, what is the probability that the person has health insurance? (Hint: You need to use the conditional probability formula.)

P(H|Y) =

  1. Given that a person in Maladia has health insurance, what is the probability that the person is age 40 or under? (Hint: You need to use the conditional probability formula.)

P(Y|H) =

  1. Are age and health insurance independent variables in Maladia? Explain why or why not using the probability rule for identifying independence.
  1. What is your conclusion about the relationship between age and health insurance in Maladia given this data?
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Answer #1

First four question done (Table plus 3 questions). Please post the remaining in a new post

Step 1: Find the totals Health Insurance Yes (H) No (HC) Age 40 and under (Y) Over 40 (YC) Totals Totals 8,00,000 10,00,000 1

What is the probability that a randomly selected person in Maladia has health insurance? P(H) 0.8000 Given that a person in M

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