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probability that top executive reads either Time or US News

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

a)What is the probablility that a particular top executive reads either Time or US News and World Report regularly?
Show the work and formula using excel.

b)What is the probablity .10 called?

Show the work and formula using excel.

c)Are the events mutually exclusive? Explain.

Mutually Exclusive -- Yes or No?

Explain Answer:

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 probablility in this case?

$2.19