px value 5.00 points A study of 257 advertising firms revealed their income afte

Question

px value 5.00 points A study of 257 advertising firms revealed their income after taxes: Under $1 million $1 million to $20 million $20 million or more 86 61 110 (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 (b-2) What rule of probability could be applied? O Special rule of addition O Rule of compliments only O Either References eBook & Resources Type here to search

Explanation / Answer

(a) Probability that the advertising firm has come under $1 million in taxes

= 86/257 = 0.3346.

(b) Probability that the firm has income $1 to $20 million or more than $20 million

= (61 + 110) / 257 = 0.6654.

This is also equal to 1 - 0.3346 = 0.6654.

(c) Both special rule of addition and rule of compliment can be applied.

So the answer is either.

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.