Probability is by far not my strong suit and I need to solve this question thoroughly. So if somebody could help me with this one:
A firm z is considering acquiring two different firms: firm A and firm B. It believes it will acquire firm A with probability 0.6 and firm B with probability 0.1. Assuming that those two events are independent, find the probability that Z acquires either firm.
Let $A$ be the event acquiring firm A and $B$ be the event acquiring firm B. The probability of acquiring either firm is: $$\mathbb{P}(A \cup B) = \mathbb{P}(A) + \mathbb{P}(B) - \mathbb{P}(A \cap B)$$ Since events A and B are independent $\mathbb{P}(A \cap B) = \mathbb{P}(A) \cdot \mathbb{P}(B)$. The rest is putting the numbers...