Business, 23.04.2021 16:30 ccarwile01
Two law firms in a community handle all the cases dealing with consumer suits against companies in the area. The Abercrombie firm takes 40% of all suits, and the Olson firm handles the other 60%. The Abercrombie firm wins 70% of its cases, and the Olson firm wins 60% of its cases.
a. Develop a probability tree showing all marginal, conditional, and joint probabilities.
b. Develop a joint probability table.
c. Using Bayes’ rule, determine the probability that the Olson firm handled a particular case, given that the case was won.
Answers: 1
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