Examlex
A local country club has a membership of 600 and operates facilities that include an 18-hole championship golf course and 12 tennis courts. Before deciding whether to accept new members, the club president would like to know how many members regularly use each facility. A survey of the membership indicates that 68% regularly use the golf course, 43% regularly use the tennis courts, and 14% use both of these facilities regularly. Find the probability that a randomly selected member uses the golf or tennis facilities regularly.
Savings Account
A deposit account held at a financial institution that provides principal security and a modest interest rate.
Annual Interest
The amount of interest due over the course of a year on a loan, deposit, or investment, typically expressed as a percentage of the principal.
Economic Cost
The total cost of choosing one action over another, including both the explicit financial cost and the opportunity cost.
Hourly Wage
Compensation paid to employees based on the number of hours worked, typically expressed as an amount of money per hour.
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