The full fare is $100, the discounted fare is $70. In the next period (the last one before departure) there will be a request for the discounted fare with probability 0.5, and a full fare request with probability 0.4; probability of no request is 0.1.

Question

Mathematics

Kaley

23 May, 07:29

The full fare is $100, the discounted fare is $70. In the next period (the last one before departure) there will be a request for the discounted fare with probability 0.5, and a full fare request with probability 0.4; probability of no request is 0.1.

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Aarav Oconnor · Answer 1

Answer:$78

Step-by-step explanation:

The two events, i. e request for full fare and the request for discounted fare ar mutually exclusive, i. e if one happens the other cannot and vice versa.

The representation via set diagram will show a disjointed subset while P (AnB) ^° is 1 - (P (A) + P (B)) = 0.1.

Where A is the probability of full fare request while B is the probability of discounted request.

Probability (AUB) = P (A) + P (B) = 0.5*100+0.4*70=78.