Given that events A and B are independent with P(A)=0.5 and P(B)=0.37, determine the value of P(A∩B), rounding to the nearest thousandth, if necessary.Answer:
Q. Given that events A and B are independent with P(A)=0.5 and P(B)=0.37, determine the value of P(A∩B), rounding to the nearest thousandth, if necessary.Answer:
Understand Independent Events: Understand the concept of independent events. For two independent events A and B, the probability of both events occurring is the product of their individual probabilities. This is expressed as P(A∩B)=P(A)×P(B).
Calculate P(A∩B): Use the given probabilities to calculate P(A∩B). We are given P(A)=0.5 and P(B)=0.37. To find P(A∩B), we multiply these probabilities together. P(A∩B)=P(A)×P(B)=0.5×0.37
Perform Multiplication: Perform the multiplication to find P(A∩B).P(A∩B)=0.5×0.37=0.185
Round Result: Round the result to the nearest thousandth if necessary.The result 0.185 is already rounded to the nearest thousandth, so no further action is needed.