A study of 248 advertising firms revealed their income after taxes: Income after Taxes Number of Firms Under $1...

60.1K

Verified Solution

Question

Basic Math

A study of 248 advertising firms revealed their income aftertaxes:
Income after Taxes Number of Firms
Under $1 million 132
$1 million to $20 million 63
$20 million or more 53
What is the probability an advertising firm selected at randomhas under $1 million in income after taxes? (Round youranswer to 2 decimal places.)
b-1. What is the probability an advertisingfirm selected at random has either an income between $1 million and$20 million, or an income of $20 million or more? (Roundyour answer to 2 decimal places.)
b-2. What rule of probability was applied?
Rule of complements only
Special rule of addition only
Either

Answer & Explanation Solved by verified expert

4.4 Ratings (879 Votes)

a Classical probability is calculated by theratio of the number of trials favourable to the event to the totalnumber of trialsProbability that an advertising firm selected See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Income after Taxes	Number of Firms
Under $1 million		132
$1 million to $20 million		63
$20 million or more		53