QUESTIONANSWER NUMBER QUESTIONS A study of 200 computer service firms revealed t

Question

QUESTIONANSWER NUMBER QUESTIONS A study of 200 computer service firms revealed these incomes after taxes: Income After Taxes nder S1 million SI million up to S20 million $20 million and more Number of Firms 102 61 37 What is the probability that a particular firm selected has $1 million or more in income after taxes? A. 0.00 B. 0.25 C. 0.49 D. 0.51 A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes, 15% needed major dental work and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes or major dental work? A. 0.20 B. 0.25 C. 0.50 D. 1.00 2 A survey of top executives revealed that 35% of them regularly read Time magazine, 20% read Newsweek and 40% read U.S. News & World Report. Ten percent read both Time and U.S. News & World Report. What is the probability that a particular top executive reads either Time or U.S. News & World Report regularly? A. 0.85 B. 0.06 C. 1.00 D. 0.65

Explanation / Answer

1. P($1 million or more) = (61 + 37)/(102 + 61 + 37) = 0.49

Option C is correct.

2. P(Either corrective shoes or major dental work) = 0.08 + 0.15 - 0.03 = 0.20

Option A is correct.

3. P(Either time or U.S. News) = 0.35 + 0.40 - 0.10 = 0.65

Option D is correct.

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