A survey of Forbes subscribers found the following information about the distribution of corporate credit cards. Assume that the subscription to any credit card is independent of each other. American Express 40% MasterCard 25% Visa 20% Discover 15% Others 5% What is the probability that a randomly chosen Forbes subscriber holds both an American Express and Visa corporate credit cards?

A survey of Forbes subscribers found the following information about the distribution of corporate credit cards. Assume that the subscription to any credit card is independent of each other. American Express 40% MasterCard 25% Visa 20% Discover 15% Others 5% What is the probability that a randomly chosen Forbes subscriber holds both an American Express and Visa corporate credit cards?

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Description: A survey of Forbes subscribers found the following information about the distribution of corporate credit cards.Assume that the subscription to any credit card is independent of each other. American Express 40%

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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Question

A survey of Forbes subscribers found the following information about the distribution of corporate credit cards.

Assume that the subscription to any credit card is independent of each other.

American Express 40%

MasterCard 25%

Visa 20%

Discover 15%

Others 5%

What is the probability that a randomly chosen Forbes subscriber holds both an American Express and Visa corporate credit cards?

Answer choices below:

.05

.45

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