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In the Two Upcoming Basketball Games, the Probability That UTC

question 61

Essay

In the two upcoming basketball games, the probability that UTC will defeat Marshall is 0.63, and the probability that UTC will defeat Furman is 0.55. The probability that UTC will defeat both opponents is 0.3465.
a.What is the probability that UTC will defeat Furman given that they defeat Marshall?
b.What is the probability that UTC will win at least one of the games?
c.What is the probability of UTC winning both games?
d.Are the outcomes of the games independent? Explain and substantiate your answer.


Definitions:

Aggressive Collection

Intensive efforts by a company to recover owed money from its debtors, possibly including legal actions and persistent contact.

Bad Debt Expenses

Costs recognized by businesses when they cannot collect payments from customers to whom credit had been extended, considered as a loss.

EOQ Model

The Economic Order Quantity model is a formula used by companies to determine the optimal order quantity that minimizes the total inventory holding costs and ordering costs.

Fixed Per Order Cost

The set cost incurred each time an order is placed, regardless of the size of the order.

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