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Each year, ratings are compiled concerning the performance of new cars during the first 90 days of use. Suppose that the cars have been categorized according to whether a car needs warranty-related repair (yes or no) and the country in which the company manufactur- ing a car is based (United States or not United States). Based on the data collected, the probability that the new car needs a warranty repair is 0.04, the probability that the car is manufactured by a U.S.-based company is 0.60, and the probability that the new car needs a warranty repair and was manufactured by a U.S.-based company is 0.025. a. Suppose you know that a company based in the United States manufactured a particular car. What is the probability that the car needs a warranty repair? b. Suppose you know that a company based in the United States did not manufacture a particular car. What is the probability that the car needs a warranty repair? JA: The Tutor can help you get an A on your homework or ace your next business test. Is there anything else the Tutor should be aware of? Customer: The problem is a conditional probability problem.

Hello! I needed help with a question on intermediate microeconomics JA: The Tutor can help you get an A on your homework or ace your next test. Tell me more about what you need help with so we can help you best. Customer: Hello! I needed help with a question on intermediate microeconomics JA: Is there anything else important you think the Tutor should know? Customer: It is regarding utility, indifference functions budget constraints and preferences