In a survey conducted by Bank of America, college graduates were asked how much money they typically donate to their alma mater each year. The responses are summarized below: Nothing 58% Something, but less than $500 32% S500 or more 10% Based on these results: (a) What is the probability that a randomly selected college graduate gives at least something in a typical year? (b) What is the probability that a randomly selected college graduate gives less than $500 in a typical year?
In a survey conducted by Bank of America, college graduates were asked how much money they typically donate to their alma mater each year. The responses are summarized below: Nothing 58% Something, but less than $500 32% S500 or more 10% Based on these results: (a) What is the probability that a randomly selected college graduate gives at least something in a typical year? (b) What is the probability that a randomly selected college graduate gives less than $500 in a typical year?
Solution Summary: The author explains that Bank of America conducted a survey from the college graduates to know how much money they donate to their alma mater each year.
In a survey conducted by Bank of America, college graduates were asked how much money they typically donate to their alma mater each year. The responses are summarized below:
Nothing 58%
Something, but less than $500 32%
S500 or more 10%
Based on these results:
(a) What is the probability that a randomly selected college graduate gives at least something in a typical year?
(b) What is the probability that a randomly selected college graduate gives less than $500 in a typical year?
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Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License