Determine Whether the Given Information Is Consistent with a Probability $P ( A ) = 0.7$

question 22

Essay

Determine whether the given information is consistent with a probability distribution. If not, say why.
​ $P ( A ) = 0.7$ ; $P ( B ) = 0$ ; $P ( A \cap B ) = 0$

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Definitions:

Retire Later

The decision or trend of extending one's career or working life beyond the traditionally accepted retirement age.

Unretired Individuals

Persons who are of an age traditionally associated with retirement but choose to remain in the workforce either full-time or part-time.

Economic Theory

A set of principles and methodologies that economists use to explain and predict economic patterns and behaviors.

Rational People

Individuals or decision-makers who systematically and purposefully do the best they can to achieve their objectives, making decisions based on available information and logical reasoning.