An insurance company classifies its policy holders according to age, sex, and marital status. Of 500 policy holders, it was found out that: 350 were married, 240 were under 25, 230 were married men, 110 were married and under 25, 100 were men under 25, 40 were married men under 25, and 10 were single women 25 or older. How many policy holders were men?
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
An insurance company classifies its policy holders according to age, sex,
and marital status. Of 500 policy holders, it was found out that: 350 were
married, 240 were under 25, 230 were married men, 110 were married
and under 25, 100 were men under 25, 40 were married men under 25,
and 10 were single women 25 or older. How many policy holders were
men?
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