Find the Indicated Probability

question 28

Multiple Choice

Find the indicated probability.
-100 employees of a company are asked how they get to work and whether they work full time or part time. The figure below shows the results. If one of the 100 employees is randomly selected, find the probability of getting someone who carpools or someone who works full time.


1. Public transportation: 7 full time, 8 part time
2) Bicycle: 4 full time, 5 part time
3) Drive alone: 35 full time, 25 part time
4) Carpool: 8 full time, 8 part time

• A) 0.26
• B) 0.62
• C) 0.58
• D) 0.7

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Definitions:

Market-Clearing Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand, clearing the market.

Market Price

The current price at which an asset or service can be bought or sold in the open market, determined by supply and demand dynamics.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded in the market.

Suppliers

Entities or individuals that provide goods or services to consumers or other businesses.