Answer for Finite Math 6.5

First, describe the experiment:

Select one of Colossal Conglomerate's clients.

Notice that the outcomes are equally likely; any one client is as likely to be selected as any other.

Next, rephrase the question as follows:

"Find the probability that _____, given that _____ ."

Here, we can phrase the question as

"Find the probability that the client is a gold class customer, given that the client owns his or her own business."

The above rephrasing allows us to identify the events:

E = the event that the client is a gold class customer; n(E) = 1,600

F = the event that the client owns his or her own business; n(F) = 3,200

We also need

F = the event that the client is a gold class customer who also owns his or her own business; n(E

F) = 800.

We can now use the formula for equally likely outcomes:

P(E\|F)	=	n(EF) n(F)
	=	800 3,200	=	0.25

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