Given that events A and B are independent with P, left parenthesis, A, right parenthesis, equals, 0, point, 7P(A)=0.7 and P, left parenthesis, B, right parenthesis, equals, 0, point, 4, 1P(B)=0.41, determine the value of P, left parenthesis, A, intersection, B, right parenthesisP(A∩B), rounding to the nearest thousandth, if necessary.
Question
Given that events A and B are independent with P, left parenthesis, A, right parenthesis, equals, 0, point, 7P(A)=0.7 and P, left parenthesis, B, right parenthesis, equals, 0, point, 4, 1P(B)=0.41, determine the value of P, left parenthesis, A, intersection, B, right parenthesisP(A∩B), rounding to the nearest thousandth, if necessary.
Solution
Since events A and B are independent, the probability of both events occurring is the product of their individual probabilities.
So, P(A ∩ B) = P(A) * P(B)
Substituting the given values:
P(A ∩ B) = 0.7 * 0.41 = 0.287
So, the value of P(A ∩ B) is approximately 0.287, rounded to the nearest thousandth.
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