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Assume that the car lot contains 35 percent Lincolns, 35 percent Jaguars, and 30 percent BMWs. Of the Lincolns, 90 percent have navigation systems, 60 percent of the Jaguars have navigation systems, and 40 percent of the BMWs have navigation systems. Furthermore, 70 percent of the Lincolns, 50 percent of the Jaguars, and 90 percent of the BMWs are silver. The property of being silver is independent from having a navigation system. You are assigned a car at random.
If the car has a navigation system and is silver, what is the probability that it is a Lincoln?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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