munity, of which 820 are with kids and the rest are without kids. Let event A correspond to “Household with kids”, and B to “H

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Apple products have become a household name in America, with the average household owning 2.6 Apple products (CNBC, October 10, 2017). Suppose that in the Midwest, the likelihood of owning an Apple product is 61% for households with kids and 48% for households without kids. Suppose there are 1,200 households in a representative community, of which 820 are with kids and the rest are without kids. Let event A correspond to “Household with kids”, and B to “Household owns an Apple product”.
 
a. Are the events “household with kids” and “household without kids” mutually exclusive and exhaustive?
  
multiple choice

  • Yes
  • No


 
b. What is the probability that a household is without kids? (Round your answer to 4 decimal places.)
  

 


 
c. What is the probability that a household is with kids and owns an Apple product? (Do not round intermediate calculations. Round your answer to 4 decimal places.)
  

 


 
d. What is the probability that a household is without kids and does not own an Apple product? (Do not round intermediate calculations. Round your answer to 4 decimal places.)
  

 
 
 
 
 
 
 
 
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