Solve the Problem What Is the Probability That a Household Has an Annual

question 76

Multiple Choice

Solve the problem.
-The table below shows the results of a consumer survey of annual incomes in 100 households. $$\begin{array} { l | c } \text { Income } & \text { Number of households } \\\hline \$ 0 - 14,999 & 9 \\\hline \$ 15,000 - 24,999 & 23 \\\hline \$ 25,000 - 34,999 & 28 \\\hline \$ 35,000 - 44,999 & 30 \\\hline \$ 45,000 \text { or more } & 10\end{array}$$ What is the probability that a household has an annual income of $25,000 or more?

• A) 0.6
• B) 0.4
• C) 0.28
• D) 0.68

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Definitions:

Taxes Payable

Liabilities owed to government entities, representing taxes due to be paid by individuals or organizations.

Property Plant and Equipment

Long-term tangible assets held for business use and not expected to be converted to cash in the upcoming year.

Total Assets

The sum of all resources owned by a company as reflected on the balance sheet, including both current and non-current assets.

Accumulated Depreciation

Accumulated depreciation represents the total depreciation expense assigned to a fixed asset over its useful life, reducing its book value.