Use the data in tab “Probability to answer the following three questions. Assumi

Question

Use the data in tab “Probability to answer the following three questions.

Assuming that this probability distribution conforms to the two rules of probability, what the probability that a randomly selected graduate earns between $75,001 and $85,000?

3 points   

QUESTION 24

What is the probability that a randomly selected graduate earns more than $35,001?

3 points   

QUESTION 25

What is the probability that a randomly selected graduate earns less than $55,001?

Starting Salary Probability Less than $25,000 0.07 $25,001 - $35,000 0.15 $35,001 - $45,000 0.23 $45,001 - $55,000 0.33 $55,001 - $65,000 0.14 $65,001 - $75,000 0.05 $75,001 - $85,000

Explanation / Answer

23)

the sum of a probability distribution is 1

P($75,001 - $85,000) = 1- (0.07+0.15+0.23+0.33+0.14+0.05)

=1- 0.97

= 0.03

24)

=0.23+0.33+0.14+0.05+0.03 = 0.78

25)

= 0.07+0.15+0.23+ 0.33

= 0.78

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