Question

A company is considering purchasing the mineral rights to two different mountains. The probability that it will purchase the mineral rights to the first mountain is 0.55. The probability that it will purchase the mineral rights to the second mountain is 0.4. Assuming the decisions to purchase the mineral rights to each mountain are made independently, what is the probability that it will purchase the mineral rights to exactly one of the two mountains?
a. 0.4
b. 0.45
c. 0.51
d. 0.49

Answer 1

Using probability of independent events, it is found that the probability that it will purchase the mineral rights to exactly one of the two mountains is given by:

c. 0.51

If two events, A and B, are independent, the probability of both happening is the multiplication of the probability of each happening, that is:

$P(A \cap B) = P(A)P(B)$

In this problem, these following two events result in the rights of exactly one of the two mountains being bought:

• First bought(0.55 probability), second not(0.6 probability).

• First not bought(0.45 probability), second bought(0.4 probability).

Hence:

$p = 0.55(0.6) + 0.45(0.4) = 0.51$

Thus, option c is correct.

A similar problem is given at https://brainly.com/question/24174994