WLD Incorporated, a national data-collection agency, estimates that % of all customers at home warehouse stores (in the United S
tates) own their own home. WLD also estimates that % of all home warehouse customers have lived at their current address for less than five years, and that % of all home warehouse customers both own their own home and have lived at their current address for less than five years. Using these estimates, what is the probability that a randomly selected home warehouse customer owns her own home or has lived at her current address for less than five years (or both)?
Let A be the event that all customers at home warehouse stores own their own home.
Let B be the event that all customers at home warehouse have lived at their current address for less than 5 years.
P(A) = 54% = 0.54
P(B) = 34% = 0.34
P(A∪B) = 26% = 0.26
We need to find the probability that a randomly selected home warehouse customer owns her own home or has lived at her current address for less than five years.
Study all notes, reread the chapters again. Have someone ask questions on the chapters page by page. This always has worked for me. Plus try to do this again the night before the test. You will be surprised how much you can remember by doing it again the night before the test. Hope this helps.
