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Probability-company offers life insurance or retirement plan

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Reference no: EM131670829

Question: The U.S. Bureau of Labor Statistics publishes data on the benefits offered by small companies to their employees. Only 42% offer retirement plans while 61% offer life insurance. Suppose 33% offer both retirement plans and life insurance as benefits. If a small company is randomly selected, determine the following probabilties:

a. The company offers a retirement plan given that they offer life insurance.

b. The company offers life insurance given that they offer a retirement plan.

c. The company offers life insurance or a retirement plan.

d. The company offers a retirement plan and does not offer life insurance.

e. The company does not offer life insurance if it is known that they offer a retirement plan.

Reference no: EM131670829

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