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 1990 880 College Graduate 430 700 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 | Ac) =

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 1990 880 College Graduate 430 700 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 | 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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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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	1990	880
College Graduate	430	700

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)	=

(b) Are the events A and B independent events?

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