Contract Negotiations Experience has shown that, 50% of the time, a particular union– management contract negotiation led to a contract settlement within a 2-week period, 60% of the time the union strike fund was adequate to support a strike, and 30% of the time both conditions were satisfied. What is the probability of a contract settlement given that the union strike fund is adequate to support a strike? Is settlement of a contract within a 2-week period dependent on whether the union strike fund is adequate to support a strike?
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