Reference no: EM131670901

Question: A survey by the Arthur Andersen Enterprise Group/ National Small Business United attempted to determine what the leading challenges are for the growth and survival of small businesses. Although the economy and finding qualified workers were the leading challenges, several others were listed in the results of the study, including regulations, listed by 30% of the companies, and the tax burden, listed by 35%. Suppose that 71% of the companies listing regulations as a challenge listed the tax burden as a challenge. Assume these percentages hold for all small businesses. If a small business is randomly selected, determine the following probabilities:

a. The small business lists both the tax burden and regulations as a challenge.

b. The small business lists either the tax burden or regulations as a challenge.

c. The small business lists either the tax burden or regulations but not both as a challenge.

d. The small business lists regulations as a challenge given that it lists the tax burden as a challenge.

e. The small business does not list regulations as a challenge given that it lists the tax burden as a challenge.

f. The small business does not list regulations as a challenge given that it does not list the tax burden as a challenge.