Answer Happy

An investment firm is interested in the performance of it's accounting department's audit reports. Audit reports are classified based on two sets of criteria: On-time or Late submission and Complete or Incomplete. After some research, it has come up with the following information: • The probability that an audit report is incomplete is 0.05 • The probability that an audit report is complete given it was submitted late is 0.80 • The probability that an audit report is on-time is 0.90 What is the probability that the audit report is complete and not late? 0.87 0.08 0.045 0.95 0.03