Solved: What is the probability that a house is harmed by fire, Microeconomics

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What is the probability that a house is harmed by fire

Problem

In a neighborhood with 1,000 houses, 5 catch fire, 7 are damaged by high winds, and the rest are unharmed during a one-year period. What is the probability that a house is harmed by fire or high winds?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is the probability that a house is harmed by fire

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