TABLE 4-12 Jake Woke Up Late in the Morning on the Day

question 21

Short Answer

TABLE 4-12
Jake woke up late in the morning on the day that he has to go to school to take an important test. He can either take the shuttle bus which is usually running late 20% of the time or ride his unreliable motorcycle which breaks down 40% of the time. He decides to toss a fair coin to make his choice.
-Referring to Table 4-12, if Jake, in fact, gets to the test on time, what is the probability that he took the bus?

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Definitions:

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, helping businesses manage their cash flow.