A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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At one bank, it is known that 63% of customers have invested in a TFSA and 45% have
invested in an RRSP. Also, if a customer has invested in an RRSP, there is a 75% chance they have also
invested in a TFSA. Let T and R represent the
respectively. In each part of this question, express each
justify any computation by explicitly stating the formula you are using. Do not define additional events.
(a) Express each of the three probabilities listed above in terms of the events T and R.
(b) Are the events T and R independent? Explain.
(c) What is the probability a randomly selected customer has invested in
(i) both a TFSA and an RRSP?
(ii) a TFSA but not an RRSP?
(iii) at least one of these two types of investment products?
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