SOLUTION: Suppose that 48% of people own dogs. If you pick two people at random, what is
the probability that they both own a dog? Give your answer as a decimal
rounded to 4 places.
On the average, the first person picked will own dogs 48% of the time.
The second person picked will own dogs 48% of that 48% of the time.
The answer is 48% of 48% of the time, or (48%)(48%) = (0.48)(0.48) = 0.2304.
Edwin