A study of 200 advertising firms revealed their income after taxes: Income after

Question

A study of 200 advertising firms revealed their income after taxes: Income after Taxes Under $1 million $1 million to $20 million $20 million or more Number of Firms 109 53 38 a. What is the probability an advertising firm selected at random has under $1 million in income after taxes? (Round your answer to 2 decimal places.) Probability hat is the probability an advertising firm selected at random has either an income between $1 million and $20 million, or an income of $20 million or more? (Round your answer to 2 decimal places.) Probability b-2. What rule of probability was applied? Rule of probability(Click to select) (Click to select) Rule of complements only Special rule of addition only References eBo Either

Explanation / Answer

a) Probability that income is under $1 mil is 109/(109+53+38)=0.545

b1)this is given as 1-P(income is under $1 mil)=1-0.545 =0.455

b2) Rule of complements and addition were both applied. So C

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