Find the probability of that he or she owns a credit card given that the student is a freshman. Round your answer to the three decimal places The table presents data on credit card ownership among freshmen and sophomores.**Table: Credit Card Ownership by Class**| Class | Credit Card Carrier | Not a Credit Card Carrier | Total ||-------------|---------------------|---------------------------|-------|| Freshman | 45 | 15 | 60 || Sophomore | 32 | 8 | 40 || Total | 77 | 23 | 100 |**Explanation:**- The table is divided into four columns: class year, number of credit card carriers, number of non-credit card carriers, and total students.- Freshmen: 45 students carry a credit card, while 15 do not, totaling 60 students.- Sophomores: 32 students carry a credit card, while 8 do not, totaling 40 students.- Overall, the totals show that out of 100 students, 77 are credit card carriers and 23 are not.

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Find the probability of that he or she owns a credit card given that the student is a freshman. Round your answer to the three decimal places

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

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.

Tree diagram

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.

Question

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Find the probability of that he or she owns a credit card given that the student is a freshman. Round your answer to the three decimal places

The table presents data on credit card ownership among freshmen and sophomores.

**Table: Credit Card Ownership by Class**

| Class | Credit Card Carrier | Not a Credit Card Carrier | Total |
|-------------|---------------------|---------------------------|-------|
| Freshman | 45 | 15 | 60 |
| Sophomore | 32 | 8 | 40 |
| Total | 77 | 23 | 100 |

**Explanation:**
- The table is divided into four columns: class year, number of credit card carriers, number of non-credit card carriers, and total students.
- Freshmen: 45 students carry a credit card, while 15 do not, totaling 60 students.
- Sophomores: 32 students carry a credit card, while 8 do not, totaling 40 students.
- Overall, the totals show that out of 100 students, 77 are credit card carriers and 23 are not.

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