The personnel department of Franklin National Life Insurance

The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees.

Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee\'s income is more than $60,000.
(a) Find each of the following probabilities. (Round your answers to four decimal places.)

Solution

The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees.

Income

Income

    $60,000 or Below    

    Above $60,000

Total

Noncollege Graduate    

2030

890

2920

College Graduate

350

730

1080

Total

2380

1620

4000

Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee\'s income is more than $60,000.
(a) Find each of the following probabilities. (Round your answers to four decimal places.)

P(A)

=1080/4000 = 0.2700

P(B)

=1620/4000 = 0.4050

P(A and B)

=730/4000 = 0.1825

P(B | A)

=730/1080 =0.6759

P(B | A^c)

=890/2920 =0.3048