Find the possibility that the household selected

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Reference no: EM1316195

Find the possibility that the household selected is either prosperous or educated.

Call a household prosperous if its income exceeds $100,000. Call household educated if the householder completed college. Choose an American household at random, and let A be the event that the selected household is prosperous and B the event that it is educated. According to the Current Population Survey, P (A) = 0.138, P (B) = 0.261, and the probability that a household is both prosperous and educated is P (A and B) = 0.082. What is the probability P (A or B) that the household selected is either prosperous or educated?

Reference no: EM1316195

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