Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

According to a survey of American households, the probability that the residents own 2 cars if annual household income is over $50,000 is 80%. Of

According to a survey of American households, the probability that the residents own 2 cars if annual household income is over $50,000 is 80%. Of the households surveyed, 60% had incomes over $50,000 and 70% had 2 cars.


a) What is the probability that the residents of a household own 2 cars and have an income over $50,000 a year? Show or explain how you obtain your answer.

b) What is the probability that the residents of a household do not own 2 cars and have an income over $50,000 a year? Show or explain how you obtain your answer.

c) What is the probability that the residents do not own 2 cars if annual household income is not over $50,000? Show or explain how you obtain your answer.

Step by Step Solution

3.42 Rating (161 Votes )

There are 3 Steps involved in it

Step: 1

From the information we have PTwo 50 080 P50 060 PTwo 070 a The probability ... blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics Learning From Data

Authors: Roxy Peck

1st Edition

495553263, 978-1285966083, 1285966082, 978-0495553267

More Books

Students explore these related Accounting questions