What is the probability that a randomly selected graduate has a job if he or she is attending college? Give your answer as
1 answer:
Complete question :
Suppose that of the 300 seniors who graduated from Schwarzchild High School last spring, some have jobs, some are attending college, and some are doing both. The following Venn diagram shows the number of graduates in each category. What is the probability that a randomly selected graduate has a job if he or she is attending college? Give your answer as a decimal precise to two decimal places.
What is the probability that a randomly selected graduate attends college if he or she has a job? Give your answer as a decimal precise to two decimal places.
Answer:
0.56 ; 0.60
Step-by-step explanation:
From The attached Venn diagram :
C = attend college ; J = has a job
P(C) = (35+45)/300 = 80/300 = 8/30
P(J) = (30+45)/300 = 75/300 = 0.25
P(C n J) = 45 /300 = 0.15
1.)
P(J | C) = P(C n J) / P(C)
P(J | C) = 0.15 / (8/30)
P(J | C) = 0.5625 = 0.56
2.)
P(C | J) = P(C n J) / P(J)
P(C | J) = 0.15 / (0.25)
P(C | J) = 0.6 = 0.60
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Answer:
(a). $20,000
(b). The estimate will be lower than the actual amount.
Step-by-step explanation:
We have been given that Michael saves $423 dollars a month for college.
(a). We know that 1 year equals 12 months.
4 years = 4*12 months = 48 months.
Since we are asked to find the estimated amount of money Michael will save in 4 years, so we will estimate both quantities as:
Therefore, Michael will save approximately $20,000 in 4 years.
(b).
The estimate will be lower than the actual amount as we rounded $423 down $23 to nearest hundred that is $400 and rounded 48 up 2 to nearest ten that is 40.
Therefore, the estimate will be lower than the actual amount.