using the tables as experimental data, determine which of the following situations have a probability of at…

using the tables as experimental data, determine which of the following situations have a probability of at least 15.00%.\ni. a food establishment succeeding and earning $50,000 or more\nii. a service establishment succeeding and earning between $25,000 and $75,000\niii. a retail establishment succeeding and earning no more than $50,000\na. i only\nb. i and ii\nc. ii and iii\nd. iii only

using the tables as experimental data, determine which of the following situations have a probability of at least 15.00%.\ni. a food establishment succeeding and earning $50,000 or more\nii. a service establishment succeeding and earning between $25,000 and $75,000\niii. a retail establishment succeeding and earning no more than $50,000\na. i only\nb. i and ii\nc. ii and iii\nd. iii only

Answer

Answer:

b. I and II

Explanation:

Step1: Calculate total number of food establishments

Total food = 945 + 623+601 + 258+114 = 2541

Step2: Calculate probability for I

Food earning $50k$ or more = 601 + 258+114 = 973. Probability = $\frac{973}{2541}\approx0.383 = 38.3%$

Step3: Calculate total number of service establishments

Total service = 979+739 + 432+174+124 = 2448

Step4: Calculate probability for II

Service earning between $25 - 75k$ = 739+432 = 1171. Probability = $\frac{1171}{2448}\approx0.479 = 47.9%$

Step5: Calculate total number of retail establishments

Total retail = 813+548+347+188+63 = 1959

Step6: Calculate probability for III

Retail earning no more than $50k$ = 813+548 = 1361. Probability = $\frac{1361}{1959}\approx0.695 = 69.5%$ Since I and II have probabilities greater than $15%$, the answer is b.