This problem involves calculating the joint probability of two events (being a smoker and having cancer) using the information provided about a population of men.
We need to find the probability that a randomly selected man is both a smoker and suffers from cancer, denoted as $P(S \cap C)$.
We use the addition rule for probabilities:
$P(S \cup C) = P(S) + P(C) - P(S \cap C)$
To find $P(S \cap C)$, we rearrange the formula:
$P(S \cap C) = P(S) + P(C) - P(S \cup C)$
Therefore, the probability that a randomly selected man is both a smoker and suffering from cancer is 0.08.
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