# 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:

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#### 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?

Executive reads Time or US News; checking & savings

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. What is the probability that a particular

top executive reads either Time or U.S. News and World Report regularly?

2. A local bank reports that 80 percent of its customers maintain a checking account, 60

percent have a savings account, and 50 percent have both.

a) If a customer is chosen at random,what is the probability the customer has either a ^

checking or a savings account?

b) What is the probability the customer does not have either a checking or a savings

account?

3. You have a bag that contains the following colors of marbles: 4 blue, 3 red, 2 green, and 1

yellow. What is the probability of drawing each of the following from the bag?

a. 1 blue,1 red, and 1 yellow (without replacement)

b. 1 red and 2 green (without replacement)

c. A green or a yellow marble in a single draw

4. Refer to the contingency table shown below, (a) Calculate each probability (i-iv).

a.P(S)

b.P(W)

c.P(S/B)

d.P(S and W)

Males Aged 18-24

White smoker =290

Black smokers=30

Total smokers=320

White nonsmoker=560

Black nonsmoker=120

Total nonsmokers=680