Given that events A and B are independent with P(A)=0.72 and P(B)=0.1, 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)=0.72 and P(B)=0.1, determine the value of P(A∩B), rounding to the nearest thousandth, if necessary.Answer:
Understand concept of independent events: Understand the concept of independent events. For independent events A and B, the probability of both events occurring together, denoted as P(A∩B), is the product of their individual probabilities. P(A∩B)=P(A)×P(B)
Substitute given probabilities into formula: Substitute the given probabilities into the formula. P(A)=0.72P(B)=0.1P(A∩B)=0.72×0.1
Calculate product to find P(A∩B): Calculate the product to find P(A∩B).P(A∩B)=0.72×0.1=0.072
Round result if necessary: Round the result to the nearest thousandth if necessary.The result is already at the thousandth place, so no further rounding is needed.