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Answer:
The answer is below
Step-by-step explanation:
What is the equilibrium price and the quantity for the market whose quantity demanded and quantity supplied are given: Qd=220-5P and Qs= -20+3P?]
Solution:
The equilibrium price of a goods is the price at which the quantity of goods supplied is equal to the quantity of goods demanded. The equilibrium price can be determined by the supply and demand curve. The equilibrium price is the price at which the point of intersection of the supply and demand curve.
At equilibrium:
The equilibrium price is 30.
The equilibrium quantity = 220 - 5p = 220 - 5(30) = 70
We know 445 employees take the train, and that 321 of these exclusively take the train. So 445 - 321 = 124 take both the train and bus.
Now, if
is the set of employees that take the bus and 
the set of employees that take the train, then
where
is the number of employees belonging to a general set 
.
So the probability that an employee takes either the bus or train is
Now, if
where
So the probability that an employee takes either the bus or train is