Use the following information to answer the exercise: A recent poll concerning credit cards found that 35 percent of respondents use a credit card that gives them a mile of air travel for every dollar they charge. Thirty percent of the respondents charge more than $2,000 per month. Of those respondents who charge more than $2,000, 80 percent use a credit card that gives them a mile of air travel for every dollar they charge. What is the probability that a randomly selected respondent will spend more than $2,000 AND use a credit card that gives them a mile of air travel for every dollar they charge? a. (0.30)(0.35) b. (0.80)(0.35) c. (0.80)(0.30) d. (0.80)

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...
icon
Related questions
Topic Video
Question
Use the following information to answer the exercise: A recent poll concerning credit cards
found that 35 percent of respondents use a credit card that gives them a mile of air travel for
every dollar they charge. Thirty percent of the respondents charge more than $2,000 per
month. Of those respondents who charge more than $2,000, 80 percent use a credit card that
gives them a mile of air travel for every dollar they charge.
What is the probability that a randomly selected respondent will spend more than $2,000 AND
use a credit card that gives them a mile of air travel for every dollar they charge?
a. (0.30)(0.35)
b. (0.80)(0.35)
c. (0.80)(0.30)
d. (0.80)
Transcribed Image Text:Use the following information to answer the exercise: A recent poll concerning credit cards found that 35 percent of respondents use a credit card that gives them a mile of air travel for every dollar they charge. Thirty percent of the respondents charge more than $2,000 per month. Of those respondents who charge more than $2,000, 80 percent use a credit card that gives them a mile of air travel for every dollar they charge. What is the probability that a randomly selected respondent will spend more than $2,000 AND use a credit card that gives them a mile of air travel for every dollar they charge? a. (0.30)(0.35) b. (0.80)(0.35) c. (0.80)(0.30) d. (0.80)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Discrete Probability Distributions
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
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON