In a certain city, 60% of the heads of household own the house in which they reside, and 80% of the heads of the household have full-time employment. When considering what percentage of heads of household both own their home
and have a full-time job, a student estimates that 48% of heads of household fit both requirements, stating that (0.60)
(0.80) = 0.48. Is this student correct in his approach?
Yes, these two events are most likely independent, so the joint probability can be found by multiplying the individual
probabilities.
No, because although two probabilities should be multiplied, it should not be these two probabilities. This is because
the two events are likely not independent
No, these two events are most likely not independent, so the joint probability cannot be found by multiplying the
individual probabilities. They should be added instead.
Yes, the joint probability can always be found by multiplying the individual probabilities.