Step 1: Understanding the Concept:
This problem involves conditional probability. The notation \( P(B|A) \) represents the probability of event B occurring given that event A has already occurred. The relationship between conditional probability, joint probability, and individual probability is defined by the multiplication rule of probability.
Step 2: Key Formula or Approach:
The formula for the conditional probability of B given A is:
\[ P(B|A) = \frac{P(A \cap B)}{P(A)} \]
To find the probability of the intersection of A and B, \( P(A \cap B) \), we can rearrange this formula:
\[ P(A \cap B) = P(B|A) \times P(A) \]
Step 3: Detailed Calculation:
We are given the following values:
\( P(A) = 0.12 \)
\( P(B) = 0.15 \)
\( P(B|A) = 0.18 \)
Using the rearranged formula:
\[ P(A \cap B) = P(B|A) \times P(A) \]
Substitute the given values into the formula:
\[ P(A \cap B) = 0.18 \times 0.12 \]
Now, we perform the multiplication:
\[ 18 \times 12 = 216 \]
Since there are a total of four decimal places in 0.18 and 0.12, the result will have four decimal places.
\[ P(A \cap B) = 0.0216 \]
Step 4: Final Answer:
The value of \( P(A \cap B) \) is 0.0216.