SOLUTION: In a certain year, the probability that a person in the United States would declare personal bankruptcy was 0.003. The probability that a person in the United States would declare

Question 1179545: In a certain year, the probability that a person in the United States would declare personal bankruptcy was 0.003. The probability that a person in the United States would declare personal bankruptcy and had recently experienced a "big three" event (loss of job, medical problem, or divorce or separation) was 0.002. What was the probability that a person had recently experienced one of the "big three" events, given that she had declared personal bankruptcy? (Round your answer to four decimal places.)

Answer by ikleyn(52803) (Show Source): You can put this solution on YOUR website!
.


In accordance with the definition of conditional probability,


    P = .


Use your calculator.

Solved and explained.

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