Two companies are in danger of failing.( fails),( fails), and ( and both fail) . What is the probability that fails and survives?

Question

this is a probability question from a Master's course. The scenario is:

Two companies and are in danger of failing, analysts reckon that in the next year: ( fails)=0.7, ( fails)=0.6 and ( and both fail)=0.5 .

1. What is the probability that fails and survives?
2. What is the probability that both will survive?

My thoughts so far are:

1-0.5 = 0.5, but that is unlikely to be correct.

Probability that at least one will fail is 0.7+0.6−(0.5)(0.7), but I still do not seem to get the correct answer.

Any help is appreciated.

Answer 1

If the probability that M fails is $.7$, and the probability that they both fail is $.5$, then the probability that only M fails is $.7-.5=.2$

Answer 2

Do a Venn's diagram and solve it immediately

1. 0.2

2. try by yourself using the above diagram.