please, answer all question. DO NOT ANSWER PART OF IT. 7. Call a household prosp
ID: 3176784 • Letter: P
Question
please, answer all question. DO NOT ANSWER PART OF IT.
7. Call a household prosperous if its income exceeds $100,000. Call the household educated if the householder completed college. Select an American household at random, and let A be the event that the selected household is prosperous and B the event that it is educated. According to the Current Population Survey, POA 0.138, PB 0.26 and the probability that a household is both prosperous and educated is P A and B 0.082 what is the probability P A or B that the household selected is either prosperous or educated? Give your answer to 3 decimal places. Fill in the blank POA or B Book 8. Call a household prosperous if its income exceeds $100,000. Call the household educated if the householder completed college. Select an American household at random, and let A be the event that the selected household is prosperous and B the event that it is educated. According to the current Population Survey, POB 0.26 and the probability that a household is both prosperous and educated is P(A and B 0.082 What is the conditional probability that a household is prosperous, given that it is educated? Give your answer to 3 decimal places. Fill in the blank: PABExplanation / Answer
7.
Answer is 0.317
P(A) = .138
P(B) = .261
P( A and B) = .082
P( A or B)
= P(A)+P(B)-P(A int B)
= .138+.261-.082
= .317
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