A law school is trying to gain a better understanding of the determinants of bar passage rates. Suppose that they the following facts were uncovered: 1. The probability with which a randomly selected graduate has received an A in Economic Foundations of Legal Studies (EFLS) is 0.3;2. The probability with which a randomly selected graduate has passed the bar exam is 0.81;3. The probability with which a randomly selected graduate has received an A in EFLS and has passed the bar exam is 0.27. Which of the following statements is true regarding the events X and Y, defined as follows: X = “a randomly selected graduate having received an A in EFLS”; andY = “a randomly selected student having passed the bar exam”? A) X and Y are independent events, and this can be verified by noting that P(X|Y) = 0.3.B) X and Y are not independent events, and this can be verified by noting that P(X|Y) = 0.3.C) X and Y are not independent events, and this can be verified by noting that P(X|Y) =.333.D) X and Y are not independent events and this can be verified by noting that P(X|Y) = 0.243.E) None of the above

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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A law school is trying to gain a better understanding of the determinants of bar passage rates. Suppose that they the following facts were uncovered:

1. The probability with which a randomly selected graduate has received an A in Economic Foundations of Legal Studies (EFLS) is 0.3;
2. The probability with which a randomly selected graduate has passed the bar exam is 0.81;
3. The probability with which a randomly selected graduate has received an A in EFLS and has passed the bar exam is 0.27.

Which of the following statements is true regarding the events X and Y, defined as follows:

X = “a randomly selected graduate having received an A in EFLS”; and
Y = “a randomly selected student having passed the bar exam”?

A) X and Y are independent events, and this can be verified by noting that P(X|Y) = 0.3.
B) X and Y are not independent events, and this can be verified by noting that P(X|Y) = 0.3.
C) X and Y are not independent events, and this can be verified by noting that P(X|Y) =.333.
D) X and Y are not independent events and this can be verified by noting that P(X|Y) = 0.243.
E) None of the above

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