For any given year, the probability that a McDonalds makes a profit is 0.78 and the...

For any given year, the probability that a McDonalds makes a profit is 0.78 and the probability that they make charitable contributions is 0.23.
Assuming that these two events are independent, find the probability (rounded to 4 decimal places) that McDonalds will make a profit and make charitable contributions in 2020:

Solutions

Expert Solution

Let us suppose that 'M' and 'C' denote a McDonalds profit and charitable contributions respectively for any given year.

Thus, we have given that-

P (M) = 0.78 & P(C) = 0.23

We have also given that these two events are independent.

Now we have to find out the probability that McDonalds will make a profit and make charitable contributions in 2020.

It implies we have to find out that-

Which is nothing but equal to-

Because we have given that these two events are independent.

Hence,

This is the required probability that McDonalds will make a profit and make charitable contributions in the year 2020.

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orchestra answered 1 year ago

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