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    Probability

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    A study of 200 grocery chains revealed these incomes after taxes.

    incomes after taxes num of firms
    under $1million 102
    $1 million to 20 million 61
    $20 million or more 37

    a. What is the probability a particular chain has under $1 million in income after taxes?

    b. What is the probability a grocery chain selected at random has either an income between $1 million and $20 million, or an income of $20 million or more? what rule of probability was applied?

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    Solution Preview

    A study of 200 grocery chains revealed these incomes after taxes:

    Income after Taxes Number of Firms
    Under $1 million 102
    $1 million to $20 million 61
    $20 million or more 37
    Total 200

    a. What is the probability a particular chain has under $1 million in income ...

    Solution Summary

    Probability calculations have been performed.

    $2.49

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