Answered

Join the IDNLearn.com community and start exploring a world of knowledge today. Find the information you need quickly and easily with our reliable and thorough Q&A platform.

5. The owners of a two-person business make their decisions independently of each other and then compare their decisions. If they agree, the decision is made; if they do not agree, then further consideration is necessary before a decision is reached. The first owner makes the right decision 60% of the time; the second - 70% of the time. Enter your answers as decimals. 5(a) What is the probability that they make the right decision on the first try. 5(b) What is the probability that they make the wrong decision on the first try. 5(c) What is the probability that they delay the decision for further study.

Sagot :

Ogorwyneidn

Answer:

A. 0.42

B. 0.12

C. 0.45

Step-by-step explanation:

A. The probability that they make the right decision on the first try

First person = 60%

Second person = 70%

= 60% * 70%

= 0.42

B. Probability that they make wrong decision

= Wrong decision from first person * wrong decision from second person

Wrong decision = 1- right decision

= 1-0.60 * 1-0.70

= 0.40x0.30

= 0.12

3. Probability they delay decision

= 0.60(1-0.60)+0.70(1-0.70)

= 0.60x0.40 + 0.70x0.30

= 0.24+ 0.21

= 0.45

We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to assisting you again.