A study of 202 advertising firms revealed their income after taxes: * Income after taxes: Under $1
Question:
A study of 202 advertising firms revealed their income after taxes:
* Income after taxes: Under $1 million, number of firms: 104
*Income after taxes: $1 million to $20 million, number of firms: 55
*Income after taxes: $20 million or more, number of firms: 43
(a)What is the probability an advertising firm selected at random has under $1 million in income after taxes?(round to 2 decimal places)
(b) What is the probability an advertising firm at random has either an income between $1 million and $20 million, or an income of $20 million or more? (round to 2 decimal places)
(c) Which rule of probability could be applied? Choose from the following:
*Special Rule of Addition only
* Rules of Complements only
*EITHER
Step by Step Answer:
Statistical Techniques In Business And Economics
ISBN: 356
16th Edition
Authors: Douglas Lind, William Marchal