As a company manager for XYZ Corporation there is a 0.65 probability that you will be promoted this year. There is a 0.75 probability that you will get a promotion or a raise. The probability of getting a promotion and a raise is 0.50.
a) What is the probability that you will receive a raise?
b) Are the events being promoted and receiving a raise mutually exclusive? Why or why not? Explain.
c) Are the two events, being promoted and receiving a raise, independent? Explain, using probabilities.
d) What is the probability of receiving a raise given that you have been promoted?
e) What is the probability of being promoted given that you have received a raise?