The sales manager of an insurance company told his newly hired salesman that about 30 percent of the people who inquire about life insurance policies actually buy such a policy, and 70 percent do not. According to the records of the company, 40 percent of the people who bought life insurance had an annual income between $10,000 and $30,000 while only 20 percent of those who did not buy life insurance had the same level of income. One person who inquired about insurance had an income of $15,000. What is the probability that this man will buy an insurance policy? What is the probability that a person who has an income of $.50,000 will buy an insurance policy?
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1. The sales manager of an insurance company told his newly hired salesman that about 30 percent of the people who inquire about life insurance policies actually buy such a policy, and 70 percent do not. According to the records of the company, 40 percent of the people who bought life insurance had an annual income between $10,000 and $30,000 while only 20 percent of those who did not buy life insurance had the same level of income. One person who inquired about insurance had an income of $15,000. What is the
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