A study of 202 advertising firms revealed their income after taxes: * Income after taxes: Under $1

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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

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Statistical Techniques In Business And Economics

ISBN: 356

16th Edition

Authors: Douglas Lind, William Marchal

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