Households are characterized by their income and education levels. Those with incomes above $400,000 are defined as high income (event I1), while those with incomes below $75,000 are placed in the low to moderate income category, which is designated event I3. Half of all households fall into the middle-class income category, event I2.

With regards to education levels, households are characterized as highly educated (event E1) if the head of household's has more than a 4-year college degree. E2 refers to the 50% of all households with a moderate education level, which is defined as more than a high school diploma or equivalent (like a GED), but no post-college education. Finally, those with less than a high school diploma or equivalent are placed in the E3 category.

Survey data suggests that 5% of all households are high income, and of those, 75% are highly educated. Of the remaining high-income households, one quarter has less than a high school diploma or equivalent. Only twenty percent of all households have less than a high school diploma or equivalent. Thirty percent of all households have both a moderate-income level and fall into the moderate education level, E2. Finally, focusing on all high education households that also earn less than $400,000, the middle income (I2) and low income (I3) categories are of the same size.

(a) Complete the two-way table. You may show your work

(b) Among families with the highest education level, what percent are earning $400,000 or more per year. You will get half credit for correctly writing out the equation if you don't fully solve it.