3.100 It is known that 20% of all farms in a state exceed 160 acres and that...

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3.100 It is known that 20% of all farms in a state exceed 160 acres and that 60% of all farms in that state are owned by persons over 50 years old. Of all farms in the state exceeding 160 acres, 55% are owned by persons over 50 years old.

a. What is the probability that a randomly chosen farm in this state both exceeds 160 acres and is owned by a person over 50 years old?

b. What is the probability that a farm in this state either is bigger than 160 acres or is owned by a person over 50 years old (or both)?

c. What is the probability that a farm in this state, owned by a person over 50 years old, exceeds 160 acres?

d. Are size of farm and age of owner in this state statistically independent?

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Statistics For Business And Economics

ISBN: 9780273767060

8th Global Edition

Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne

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