Question

A study of 400 computer service firms revealed these incomes after taxes: Income After TaxesNumber of FirmsUnder $1 million184$1 million up to $20 million138$20 million or more78What is the probability that a particular firm selected has $1 million or more in income after taxes

Answer 1

Using it's concept, it is found that there is a 0.54 = 54% probability that a particular firm selected has $1 million or more in income after taxes.

What is a probability?

A probability is given by the number of desired outcomes divided by the number of total outcomes.

In this problem, out of 400 firms, 138 + 78 = 216 have $1 million or more in income after taxes, hence the probability is given by:

p = 216/400 = 0.54.

More can be learned about probabilities at brainly.com/question/14398287

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