Find the Indicated Probability by Using the Special Addition Rule

question 33

Multiple Choice

Find the indicated probability by using the special addition rule.
-The age distribution of students at a community college is given below. $$\begin{array} { l c } \text { Age (years) } & \text { Number of students (f) } \\\hline \text { Under 21 } & 406 \\21 - 25 & 419 \\26 - 30 & 205 \\31 - 35 & 60 \\\text { Over } 35 & 26 \\\hline & 1116\end{array}$$ A student from the community college is selected at random. Find the probability that the student is between 26 and 35 inclusive. Round approximations to three decimal places.

• A)265
• B)0.054
• C)0.237
• D)0.184

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Definitions:

Compounded Monthly

Refers to the process of calculating interest on both the initial principal and accrued interest from previous periods on a monthly basis.

Cash Flow Stream

A series of cash inflows and outflows over a period, associated with an investment, project, or business operation.

Interest Rate

The cost of borrowing money or the amount paid for the use of funds, expressed as a percentage of the principal.

Effective Annual Rates

The effective annual rate (EAR) is the actual interest rate that an investment earns due to compounding over a given period, usually one year.