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Credit card companies have aggressively solicited new accounts from students who are new homeowners. Suppose that a sample of 150 new homeowners indicated the following information as to whether they possessed a Visa Card or an American Express Card.

(see chart in attached file)

If a student is selected at random, what is the probability that

a. The new homeowner has a Visa credit card?
b. The new homeowner has an American Express Card?
c. The new homeowner has a Visa credit card and an American Express Card?
d. The new homeowner has neither a Visa credit card nor an American Express Card?
e. The new homeowner has a Visa credit card or an American Express Card.

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This solution describes how to determine probability with calculations, answers and explanation in an attached Word document.

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Credit card companies have aggressively solicited new accounts from students who are new homeowners. Suppose that a sample of 150 new homeowners indicated the following information as to whether they possessed a Visa Card or an American Express Card.

American Express Card

Yes No Total
Yes 60 40 100

Visa ...

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