L. Michael V. answered 12/05/20
Former Actuarial Analyst
Jay R.
asked 12/04/20in contract negotiations between a local government agency and its workers, it is estimated that there is a 50% chance that an agreement will be reached on the salaries of its workers. it is estimated that there is a 70% chance that there will be an agreement on the insurance benefits. there is a 20% chance that no agreement will be reached on either issues.
PART A: find the probability that an agreement will be reached on both issues. show your work.
PART B: based on your answer from part a, determine whether the agreement on salaries and that agreement on insurance are independent events. justify your answer.
L. Michael V. answered 12/05/20
Former Actuarial Analyst
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