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Problem: In a new poll with regard to the future of the Canadian Senate, 70% of the respondents indicated that they would like to have a vote with respect to the upper chamber's future. Furthermore, 50% of the respondents said that they would like to see the Senate abolished, while 40% of the respondents said that they would like it to be kept as is.
Required:
a) If keeping the Senate or abolishing it represents two mutually exclusive events, what is the probability that a randomly chosen respondent would belong to either of the two groups?
b) If abolishing the Senate and voting for its future are statistically independent events, what is the probability that a randomly chosen respondent would be in favour of either abolishing the Senate or voting for its future?
c) Of the respondents who were in favour of keeping the Senate, 70% said that they would like to vote on it. What is the probability that a randomly chosen respondent would be in favour of either keeping the Senate or voting for its future?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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