The probability of an economic decline in the year 20Y1 is 0.23 . There is a probability of 0.64 that we will elect a Republican president in the year 20Y0 . If we elect a Republican president, there is a .35 probability of an economic decline. Let D represent the event of an economic decline, and R represent the event of election of a Republican president
a. Are R and D independent events?
b. What is the probability of electing a Republican president in 20Y0 and an economic decline in the year 20Y1?
c. If we experience an economic decline in the year 20Y1, what is the probability that a Republican president will have been elected in the year 20Y0?
d. What is the probability of economic decline in 20Y1 or a Republican president elected in the year 20Y0 or both?
a. No, because P(D) ? P(D ? R)
b. .224
c. .9739
d. .646
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