The probability that an investor will invest in real estate is 0.7, the probability that the investor will invest in the stock market is 0.4, and the probability that the investor will invest in either real estate or stock market is 0.8. What is the probability that the investor will not invest in either real estate or the stock market? Give your answer in decimal form.

The probability that an investor will invest in real estate is 0.7, the probability that the investor will invest in the stock market is 0.4, and the probability that the investor will invest in either real estate or stock market is 0.8. What is the probability that the investor will not invest in either real estate or the stock market? Give your answer in decimal form.

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...

See similar textbooks

Related questions

Q: You and a friend plan to meet in San Francisco for a Giants game. The ballpark is 49 miles from your…

A: My speed is 50mph and I have to cover 49 miles.Answer: It will take 58 minutes 48 seconds for me.

Q: Question #4 Just need to know if I have the correct answer. If not why?

Q: Melvin plays tennis and swims for a total of 110 minutes every day. He plays tennis 40 minutes more…

Q: Suppose you are going on a trip and need to choose between two car rental companies. Company 1…

A: topic - linear function

Q: Two investment have interest rates that differ by 1%. An investment for 1 year at the lower rate…

A: Let rate of interest r1 and r2 answer is r1 = 8% and r2 = 7% detailed solution with explanation is…

Q: Four times the sum of a number and 15 is at least 120. Let x represent the number. Find all possible…

A: Four times the sum of a number and 15 is at least 120. Let represent the number.To find all…

Q: The phones at Affordable Cellphones vary in price depending upon demand. The average flip phone has…

A: Just list out the given conditions and then create a quadratic equation using those conditions and…

Q: A cell phone factory has a total production cost where the fixed costs are $10,000 and the cost of…

A: Let x be the number of phones manufactured.

Q: The product of a number and five is less than or equal to the number minus four. find the solution…

A: GIVEN The product of a number and five is less than or equal to the number minus four

Q: The sum of a number and its is always zero.

A: It is known that a+-a=0 for all real numbers.

Q: Fixed costs=$85000, unit variable cost=$48, selling price per unit=$75. Find the break even number…

A: The formula for break even number in units is, Q=FCSP(per unit)-VC(per unit) Here, Q: break even…

Q: A phone company offers two monthly plans. Plan A costs $26 plus an additional $0.15 for each minute…

A: Given: A phone company offers two monthly plans. Plan A costs $26 plus an additional $0.15 for each…

Q: Four more than a number equals the sum of Seven and 12.

A: Given that, four more than a number equals the sum of seven and 12. Let the number be x.…

Q: You take 12 semester hours at FTTC in each of the Spring and Fall semesters, and 6 semester hours in…

Q: Customers who buy up to 5 pounds pay $ per pound. Customers who buy more than 5 pounds pay $20 for…

Q: A phone company offers two monthly plans. Plan A costs $16 plus an additional SO.17 for each minute…

A: We need to find time and cost.

Q: The cost of phone plan Q is $10 per month plus &0.14 per minute.phone plan R costs $7 per month plus…

A: Let x denotes the number of minutes. Then cost of plan Q is Qx=10+0.14x ⇒Q70=10+0.1470⇒Q70=19.8…

Q: Write the following sentences into equation. Example: Four times a number results to 20. Answer: 4x…

A: 1. Thrice the sum of a number and 10 is not more than 15. Let x be the number. Then the equation is,…

Q: Amazon can sell 20,000 copies of a new book for 16 per book. For each 1 reduction in price Amazon…

A: This question can be solved using the concept of maxima and minima.

Q: John’s average annual income over a 4-year period was $25,000. What would John’s average annual…

A: The objective of this question is to find out what John's average annual income should be for the…

Concept explainers

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.

Question

Answer this step by step and justify your solution ASAP

The probability that an investor will invest in real
estate is 0.7, the probability that the investor will
invest in the stock market is 0.4, and the
probability that the investor will invest in either
real estate or stock market is 0.8. What is the
probability that the investor will not invest in
either real estate or the stock market? Give your
answer in decimal form.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Linear Equations$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.

Similar questions

Helen considers two jobs. One pays $45,000/yr with a yearly raise of $2250. A second job pays $48,000/yr with yearly raises of $2000. In how many years with the salary from 50,0 the first job equal the salary of the second job?
please solve it completly. How much do you share on social media? Do you have accounts linked to your computer, phone, and tablet? The average teen spends around fivehours per day online, and checks his or her social media account about 10 times each day. When an image or post is shared publicly, somestudents are surprised at how quickly their information travels across the Internet. The scary part is that nothing online is really private. All it takes isone friend sharing your photo or updates with the public to create a very public viral trend.For this project you will use what you have learned about exponential functions to study what happens if a social media post is shared publicly. 1. Write an exponential function to represent the spread of Ben's social media post.2. Write an exponential function to represent the spread of Carter's social media post.3. Graph each function using at least three points for each curve. All graphs should be placed together on the same coordinate…
If Sasha works for 7 hours she can rent out 6 apartments, and if she works for 8 hours she can rent out 9 apartments. The average benefit from 8 hours of work equals
A farmer wants to find the best time to take her hogs to market. The current price is 84 cents per pound and her hogs weigh an average of 80 pounds. The hogs gain 5 pounds per week and the market price for hogs is falling each week by 2 cents per pound. How many weeks should she wait before taking her hogs to market in order to receive as much money as possible? She should wait weeks.
please help step by step
Show the complete solution.
Solve please
After answering Part 1 and 2, What do you find as the solution?
A farmer wants to find the best time to take her hogs to market. The current price is 88 cents per pound and her hogs weigh an average of 90 pounds. The hogs gain 5 pounds per week and the market price for hogs is falling each week by 2 cents per pound. How many weeks should she wait before taking her hogs to market in order to receive as much money as possible? She should wait weeks.