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In a recent survey of computer ownership, 73.4% of the respondents indicated they own PC computers, while 21.8% indicated they own both PC and Mac computers, and 80.1% said they own at least one of the two computers.
a.What is the probability that a respondent owns a Mac computer?
b.Given that a respondent owns a PC, what is the probability that the respondent also owns a Mac?
c.Are events "P" and "M" mutually exclusive? Why or why not? Explain using probabilities.
d.Are the two events "P" and "M" independent? Explain, using probabilities.
Physical Inventory
An actual count of all the goods on hand at the end of an accounting period.
Single-Step Income Statement
A simplified financial statement format that calculates net income by subtracting total expenses from total revenues in one step.
Statement of Stockholders' Equity
A financial document that shows changes in the equity section of a company's balance sheet, including stock transactions and retained earnings.
Fiscal Year
A one-year period used for financial reporting and budgeting purposes, which doesn't necessarily align with the calendar year.
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