A study of 203 advertising firms revealed their income after taxes: Income after
ID: 3020957 • Letter: A
Question
A study of 203 advertising firms revealed their income after taxes: Income after Taxes Number of Firms Under $1 million 108 $1 million to $20 million 53 $20 million or more 42 a. What is the probability an advertising firm selected at random has under $1 million in income after taxes? (Round your answer to 2 decimal places.) Probability b-1. What is the probability an advertising firm selected at random has either an income between $1 million and $20 million, or an income of $20 million or more? (Round your answer to 2 decimal places.) Probability
Explanation / Answer
P( an advertising firm selected at random has under $1 million in income after taxes)
= 108/203 = 0.53
b.) P( an advertising firm selected at random has either an income between $1 million and $20 million, or an income of $20 million or more)
= (53/203) +(42/203)
= 0.47
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