A study conducted by the Metro Housing Agency in a Midwestern city revealed the

Question

A study conducted by the Metro Housing Agency in a Midwestern city revealed the following information concerning the age distribution of renters within the city. (Round your answers to four decimal places.) a) What is the probability that an adult selected at random from this population is a renter? (b) If a renter is selected at random, what is the probability that he or she is in the 21-44 age bracket? (c) If a renter is selected at random, what is the probability that he or she is 45 years old or older?

Explanation / Answer

Part-a

P(renter)=(0.40*0.62+0.35*0.40+0.25*0.65)=0.5505

Part-b

P(21-44/renter)=0.62*0.40=0.248

Part-c

P(45 or older)=0.40*0.35+0.25*0.65=0.3025

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