Assignment:
An analyst predicts that there is a 40% chance that the U.S. economy will perform well. If the U.S. economy performs well, then there is an 80% chance that Asian countries will also perform well. On the other hand, if the U.S. economy performs poorly, the probability of Asian countries performing well goes down to 30%.
a. What is the probability that both the U.S. economy and the Asian countries will perform well?
b. What is the unconditional probability that the Asian countries will perform well?
c. What is the probability that the U.S. economy will perform well, given that the Asian countries perform well?
Provide complete and step by step solution for the question and show calculations and use formulas.