Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A study of 204 advertising firms revealed their income after taxes: Income after Taxes Number of Firms Under $1 million 88 $1 million to $20
A study of 204 advertising firms revealed their income after taxes:
Income after Taxes | Number of Firms | ||
Under $1 million | 88 | ||
$1 million to $20 million | 52 | ||
$20 million or more | 64 | ||
-
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.)
-
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.)
-
b-2. What rule of probability was applied?
-
Rule of complements only
-
Special rule of addition only
-
Either
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started