A company audit showed that of 876 bills that were sent out, 485 were paid on ti

Question

A company audit showed that of 876 bills that were sent out, 485 were paid on time, 149 were paid up to 30 days late, 63 were paid between 31 and 90 days late, and 179 remained unpaid after 90 days. One bill is selected at random. What is the probability that the bill was paid on time? Round your answer to four decimal places. The probability that the bill was paid on time is 0.5537. What is the probability that the bill was not paid on time? Round your answer to four decimal places. The probability that the bill was not paid on time is

Explanation / Answer

Part 1:

P(paid on time) = 485/876 = 0.5537

Part 2:

P(not paid on time) = 1 - 0.5537 = 0.4463

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.