# Statistical Probability Calculations..

Please contribute your analysis and comment.

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.

https://brainmass.com/statistics/probability/statistical-probability-calculations-80183

#### Solution Preview

Please contribute your analysis and comment.

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 ...

#### Solution Summary

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