The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees. Income $60,000 or Below Income Above $60,000 Noncollege Graduate 1930900College Graduate420750Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee's income is more than $60,000.(a) Find each of the following probabilities. (Round your answers to four decimal places.)P(A)= P(B)= P(A B)= P(B | A)= P(B | Ac)=

Answered: Find each of the following…

Find each of the following probabilities. (Round your answers to four decimal places.) P(A) = P(B) = P(A B) = P(B | A) = P(B | Ac) =

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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Question

The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees.

	Income $60,000 or Below	Income Above $60,000
Noncollege Graduate	1930	900
College Graduate	420	750

Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee's income is more than $60,000.

(a) Find each of the following probabilities. (Round your answers to four decimal places.)

P(A)	=
P(B)	=
P(A B)	=
P(B \| A)	=
P(B \| A^c)	=

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Step 1

Answer:- Given ,The data regarding the income and education of its employees -

	Income $60,000 or Below	Income Above $60,000	Total
Noncollege Graduate	1930	900	2830
College Graduate	420	750	1170
Total	2350	1650	4000

Let, A be the event that a randomly chosen employee has a college degree.

And B be the event that the chosen employee's income is more than $60,000.

Now using the above table calculating the probabilities.

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