Credit card companies have aggressively solicited new accounts from students who are new homeowners. Suppose that a sample of 150 new homeowners indicated the following information as to whether they possessed a Visa Card or an American Express Card.
American Express Card
Yes No Total
Yes 60 40 100
Visa Card No 20 30 50
Total 80 70 150
If a student is selected at random, what is the probability that
a. The new homeowner has a Visa credit card?
b. The new homeowner has an American Express Card?
c. The new homeowner has a Visa credit card and an American Express Card?
d. The new homeowner has neither a Visa credit card nor an American Express Card?
e. The new homeowner has a Visa credit card or an American Express Card.© BrainMass Inc. brainmass.com October 9, 2019, 5:25 pm ad1c9bdddf
In an Excel format, the solution shows the calculations to arrive at the answers.