In a Recent Survey of Computer Ownership, 73

question 117

Essay

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.

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Definitions:

Accounting Equation

The accounting equation is a foundational principle of accounting, stating that assets equal liabilities plus owner's equity, serving as the basis for double-entry bookkeeping.

Rent for Equipment

The cost incurred for borrowing equipment necessary for the operations of a business or project.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the ownership equity of the shareholders.

Assets

Economic resources owned or controlled by a business or individual that are expected to provide future benefits.