Question
The US Bureau of Labor Statistics publishes data on the benefits offered by small companies to their employees. Supposed 42% offer retirement plans, and 61%
The US Bureau of Labor Statistics publishes data on the benefits offered by small companies to their employees. Supposed 42% offer retirement plans, and 61% offer life insurance. Further, suppose that if they offer life insurance, the probability they also offer retirement plans is 0.54.
Show ALL work to receive full credit.
(a) Find the probability they do offer life insurance and do not offer a retirement plan.
(b) If they do not offer life insurance, what is the probability they offer a retirement plan?
(c) Find the probability they offer exactly one of the benefits (not both).
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Business Statistics for Contemporary Decision Making
Authors: Ken Black
6th Edition
978-0470409015, 9780470559062, 470409010, 470559063, 978-0470910184
