A Company Estimates That the Probability of a Recession Occurring $\mathbf{0 . 2 5}$

Short Answer

A company estimates that the probability of a recession occurring in the next year is 0.4 . The company also estimates the probability that another company distributes a competing product in the next year is 0.5 . Finally, the company feels that the probability of both a recession occurring and a competing product being produced in the next year is $\mathbf{0 . 2 5}$ .
-In the situation above, if a company produces a competing product, find the probability that there will be a recession in the next year.