Question
Around 79% of Americans live in urban areas and 21% live in rural areas. Suppose 61% of people living in urban areas own a home,
Around 79% of Americans live in urban areas and 21% live in rural areas. Suppose 61% of people living in urban areas own a home, and 82% of people who live in rural areas own a home. To answer this question, you should first write out the above facts using probability notation. Draw probability tree depicting the facts. Write answers as probabilities that range from 0-1 (for example: write 0.22, not 22%). Solve to four decimal places to ensure answers are correct throughout the problem. Find the following probabilities: Probability of living in an urban area and owning a home. Probability of living in an urban area and not owning a home. Probability of living in a rural area and owning a home. Probability of living in a rural area and not owning a home. Total probability of owning a home. Total probability of not owning a home.
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