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Anuta_ua [19.1K]
2 years ago
8

According to a survey of American households: The probability that a household owns 2 cars, if annual income is over $25,000, is

0.80. Of the households surveyed, 60% had an income over $25,000. Of the households surveyed, 70% had 2 cars. Given your answers to #6 and #7, what is the probability that a household owns 2 cars AND has an income of greater than $25,000 a year
Business
1 answer:
vladimir1956 [14]2 years ago
8 0

Answer: 0.48

Explanation:

P(A/B) = P(AnB)/P(B) where:

P(A/B) = The probability of event A occurring given that B has occurred.

P(AnB) = The probability of both events A and B occurring.

P(B) = the probability that event B occurs.

So let

P(A) = Probability that the residents of a household own 2 cars.

P(B) = Probability that the annual household income is greater than $25,000.

The question tells us that

P(A/B) = 0.8

Note that: P(A) = 0.7, P(B) = 0.6.

Since we want to work out P(AnB), because it gives the probability that residents have an annual household income over $25,000 and own 2 cars.

We would Rearrange our initial equation to make P(AnB) the subject formula becoming;

P(A/B) = P(AnB)/P(B)

P(B)*P(A/B) = P(AnB)

So, inserting our probabilities into this equation gives:

0.6*0.8 = 0.48

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Answer:

The answer is below

Explanation:

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Which pharmaceuticals company has decided to expand its vaccine business in the United Kingdom with an investment of £240 millio
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Which pharmaceuticals company has decided to expand its vaccine business in the United Kingdom with an investment of £240 million?

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On January 15, 2021, Concord Company received a two-month, 6%, $8300 note from William Pentel for the settlement of his open acc
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$10500.

What is credit and debit?

Events known as business transactions have a financial influence on an organization's financial statements. We enter the figures in two accounts, with the debit column on the left and the credit column on the right, to account for these transactions.

<u>Debit</u>

An accounting debit is an addition to an asset or cost account or a subtraction from a liability or equity account. In an accounting entry, it is placed to the left.

<u>Credit</u>

A credit is an accounting item that either raises or lowers an asset or cost account. It can also increase or decrease a liability or equity account. In an accounting entry, it is placed to the right.

Learn more about credit and debit with the help of given link:-

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Journalize the entries to record the following transactions for Mountain Realty Inc.:
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Answer and Explanation:

The journal entries are shown below"

On Aug 26

Cash Dr $768,000

         To Common stock $640,000

         To Additional paid in capital $128,000

(Being issuance of the common stock is recorded)

On Oct 1

Cash Dr $410,000

        To preferred stock $410,000

(Being the issuance of the preferred stock is recorded)

On Nov 30

Cash Dr $187,000

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3 years ago
The operations vice president of security home bank has been interested in investigating the efficiency of the bank’s operations
aliya0001 [1]

The costing study of bank operation goes thus:

<h3 /><h3>Opening accounts:</h3>

Distribution of Resource Amount Percentage Amount

Teller wages $160,000 x 5% = $8,000

Asst. branch manager salary $75,000 x 15% = $11,250

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<h3>Processing deposits and withdrawals:</h3>

Distribution of Resource Amount Percentage Amount

Teller wages $160,000 x 65% = $104,000

Asst. branch manager salary $75,000 x 5% = $3,750

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<h3> Processing other customer transactions:</h3>

Distribution of Resource Amount Percentage Amount

Teller wages $160,000 x 20% = $32,000

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Total $62,500

Activity rate of opening accounts = Total cost of processing other customer transactions / other customer transactions processed

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