What is the probability an advertising firm selected at rand

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.)

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.)

Solution

There are a total of 194 firms here.

a)

P(under 1 million) = 100/194 = 0.515463918 = 0.52 [ANSWER]

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b)

P(between 1M and 20M OR 20M or more) = (57+37)/(194) = 0.484536082 or 0.48 [ANSWER]