“#1 For each of the following draw a separate diagram to demonstrate the answer. (Hint: Remember the difference in a change in demand [supply] and a…
September 3, 2020
Questions attached. Please use attached template. Questions attached. Please use attached template. Files: AB204-02_Jackson_Theophilus_Unit 5 Assignment.docx
September 3, 2020

Small cars get better gas mileage, but are not as safe as bigger cars. Small cars accounted for 18% of vehicles on the road, but accidents involving small cars led to 11,898 fatalities during a recent year. Assume the probability a small car is involved in an accident is .18. The probability of an accident a involving a small car leading to a fatality is .128 and the probability of an accident not involving a small car leading to a fatality is .05. Suppose you learn of an accident involving a fatality. What is the probability a small car was involved? Assume that the likelihood of getting into an accident is independent of car size.

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