The Bank of Chicago conducted a study of 332 individuals who had recently requested mortgage relief.The individuals in the study were grouped by market value of the home and the number of years the individual had been making payments.The table shows the results.If you select someone at random from the study and find they had a home valued at $100,000 or less, how likely is it that they had been making payments for less than 10 years?" 
Definitions:
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption or decline in value.
Period Cost
Expenses that are not directly tied to the production process and are expensed in the period in which they are incurred.
Manufacturing Company
An enterprise that processes raw materials or semi-finished goods into finished goods through the use of labor, machinery, tools, and chemical or biological processing or formulation.
Period Cost
Expenses on the income statement that are not directly tied to the production process, such as administrative salaries and marketing costs.
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