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Statistics about a particular economy

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Reference no: EM131954282

Suppose an economist knows the following statistics about a particular economy:

  • The economy will be in a period of strong growth with probability 0.6
  • The economy will be in a period of weak growth with probability 0.4
  • In periods of strong growth, the probability that the economy's currency appreciates in value is 0.7
  • In periods of weak growth, the probability that the economy's currency appreciates in value is 0.3
  • The probability of a currency appreciation in any given period is 0.54.

What is the probability of strong growth and a currency appreciation in any given period?

A. 0.42

B. 0.28

C. 0.18

D. 0.12

Reference no: EM131954282

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