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2) In a large metropolitan area, the probability that an individual owns a single-family home is 0.40. The probability that a

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Answer #1

2) P(owns a single family home) = 0.40

P(owns a small business) = 0.05

a) P(does not owns a single family home) = 1 - P(owns a single family home) = 1 - 0.40 = 0.60

b) P(does not owns a small business) = 1 - P(owns a small business) = 1 - 0.05 = 0.95

c) P(own single family home | own a small business) = 0.80

P(own a small business and own single family home) = P(own single family home | own a small business) * P(own a small business)

= 0.80*0.05 = 0.04

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