What is the monthly payment rate for a $20,000 loan for 4 years with an annual interest rate of 4.8%
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Based on the data, it is found that "being female" and "earning over $50,000" are not independent events. the correct answer is option D.
<h3>What is probability?</h3>Probability is defined as the ratio of the number of favorable outcomes to the total number of outcomes in other words the probability is the number that shows the happening of the event.
Two events, A and B are independent, if:
P(A B) = P(A) P(B)
In this problem, the events are:
- Event A: Being female.
- Event B: Earning over $50,000.
Out of the 1000 people, 450 are female, hence:
P(A) = = 0.45
850 earn over $50,000, hence:
P(B) = = 0.85
375 are women who earn over $50,000, hence:
P(A B) =
= 0.375
The multiplication of the probabilities is:
P(A B) = 0.45(0.85} = 0.3825
Therefore based on the data, it is found that "being female" and "earning over $50,000" are not independent events. the correct answer is option D.
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