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A survey of top executives revealed that 35 percent of them regularly read Time magazine, 20 percent read Newsweek, and 40 percent read U.S. News and World Report. Ten percent read both Time and U.S. News and World Report.

a. What is the probability that a particular top executive reads either Time or U.S. News and World Report regularly?
b. What is the probability .10 called?
c. Are the events mutually exclusive? Explain

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https://brainmass.com/business/business-math/probability-68721

Solution Preview

Hello!
Let's call A the event that an executive reads the Time magazine, B that an executive reads the Newsweek magazine, and C that an executive reads the US News and World Report magazine. The question tells us that:

P(A) = 0.35
P(B) = 0.20
P(C) = 0.40
P(A and C) = 0.10

a) Here, we're being asked what is P(A or C). The 'or' is usually written as 'U', which means 'union'. The formula for calculating the probability of an union is:

P(A or C) ...

Solution Summary

What is the probability that a particular top executive reads either Time or U.S. News and World Report regularly?

$2.19