Explain rule of probability

Reference no: EM13119189

Rule of Probability
A study of 203 advertising firms revealed their income after taxes:
Income after Taxes
Number of Firms

Under $1 million 102

$1 million to $20 million 54

$20 million or more 47

(a) What is the probability an advertising firm selected at random has under $1 million in income after taxes? (Round your answer to 2 decimal places.)

Probability

(b-1) What is the probability an advertising firm selected at random has either an income between $1 million and $20 million, or an income of $20 million or more? (Round your answer to 2 decimal places.)

Probability

(b-2) What rule of probability could be applied?

Reference no: EM13119189

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