At Thomas Jefferson High School, Students Are Heavily Involved in Extra-Curricular

question 15

Essay

At Thomas Jefferson High School, students are heavily involved in extra-curricular
activities. Suppose that a student is to be selected at random from the students at this
school. Let the events A, M, and S be defined as follows, with the probabilities
listed: $\mathrm { A } =$ a randomly selected student is active in the performing arts: $\mathrm { P } ( \mathrm { A } ) = 0.20$
$\mathrm { M } =$ a randomly selected student is active music: $\quad \mathrm { P } ( \mathrm { M } ) = 0.32$
$\mathrm { S } =$ a randomly selected student is active in sports:
$\mathrm { P } ( \mathrm { S } ) = 0.35$
Also
$$P ( A \cap M ) = 0.18 ; \quad P ( A \cap S ) = 0.07 ; \quad P ( M \mid S ) = 0.30$$
Calculate each of the following (show your work):
a) $P ( A \mid M )$
b) $P ( A \cup M )$
c) $P ( M \cap S )$

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Definitions:

Full-Accrual Totals

A method of accounting that records revenues when earned and expenses when incurred, regardless of when cash transactions occur.

Consolidation Worksheet

A consolidation worksheet is a tool used in the preparation of consolidated financial statements. It helps in the adjustment and elimination of intra-group transactions and balances among the parent and subsidiary companies.

Goodwill

An intangible asset that represents the excess of the purchase price over the fair market value of an acquired company's net assets, attributed to factors like reputation or customer loyalty.

Impairment

A decrease in the recoverable value of an asset below its carrying amount, leading to a write-down and charge against earnings.