Solution

Let 

$S$ represent the event that union-management contract led to contract settlement within 2-week period.

Let $F$ represent the event that union had adequate fund to support strike.

Given: $P(S)= 0.5 , ~~ P(F)= 0.6, ~~ P(S \cap F)= 0.3$

Since, $P(S|F)< P(S|F^c)$, settlement of a contract within 2-week is more likely when the union strike fund is not adequate to support a strike.

Answer

0.5; settlement is more likely when union strike fund is inadequate

Visit J-Loaded.com for more.......