In 46 of the 70 years from 1936 through 2005 a certain stock market finished hig
ID: 3264486 • Letter: I
Question
In 46 of the 70 years from 1936 through 2005 a certain stock market finished higher after the first week of trading. In 37 of those 46 years, this market finished higher for the year. The following table gives the first week and annual performance of the market over this 70-year period. Use the table to answer (a) through (c) below. a. If a year is selected at random, what is the probability that the market finished higher for the year? ___ (Round to four decimal places as needed) b. Given that the market finished higher after the first week of trading. what is the probability that it finished higher or the year? __ (Round to four decimal places as needed.) A. Yes, the probabilities in (a) and (b) are not equal, which me ns that neither event affects the probability of occurrence of the other event. B. No, the probabilities in (a) and (b) are equal, which means that one event affects the probability of occurrence of the other event. C. No, the probabilities in (a) and (b) are not equal, which means that one event affects the probability of occurrence of the other event. D. Yes, the probabilities in (a) and (b) are equal, which means that neither event affects the probability of occurrence of the other event.Explanation / Answer
a) Probability will be (37+12)/70= 49/70 = 0.7000
B) probability will be = 37/46 = 0.8043
C) option A is correct