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Probability Application: Bank Accounts

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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. If a customer is chosen at random, what is the probability the customer has either a checking or a savings account? What is the probability the customer does not have either a checking or a savings account?

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Solution Summary

This solution looks at the probability of a customer not having either a checking or savings account.

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Please see the attached file.

Given:
80% of the customers have a checking account
60% of the customers have a savings account
50% of the customers have both a checking and savings account

From this we get that ...

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