The formula for determining the number of ways to select two pairs of sneakers from three pairs labeled A, B, and C is represented by 3C2 (3 combinations of 2), which calculates as 3! / (2!(3 - 2)!) = 3! / (2! x 1!) = (3 x 2) / (2 x 1) = 3. Therefore, the sample space is S = {AB, AC, BC}.
P(X \ Y) = P(X ∩ Y)/P(Y)
P(X ∩ Y) = 80/1000 = 0.08
P(Y) = 580/1000 = 0.58
P(X \ Y) = 0.08/0.58 = 8/58 = 4/29