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Use Bayes' theorem to find the indicated probability.
-In one town, 4% of 18-29 year olds own a home, as do 25% of 30-50 year olds and 52% of those over 50. According to a recent census taken in the town, 26.2% of adults in the town are 18-29 years old, 36.0% are 30-50
Years old, and 37.8% are over 50. If an adult is selected at random from the town and found to be a
Home-owner, what is the probability that they are aged between 30 and 50?
Initial Margin
The minimum amount of equity that must be provided by an investor as part of the terms of a futures contract or other marginable securities.
Futures Contract
A standardized legal agreement to buy or sell something at a predetermined price at a specified time in the future.
Total Value
The comprehensive worth of an asset or company, considering all sources of value including tangible and intangible factors.
Futures Contract
A standardized legal agreement to buy or sell something at a predetermined future date and price, commonly used for commodities or financial instruments.
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