Business Mathematics (1429)
Q. 1 (a) The table below gives the probability
that a person has life insurance in the indicated range.
Amount of Insurance None Less than @10,000 $10,000–$24,999 $25,000–$49,999$50,000–$99,999 $100,000– $1999,999 $200,000 or more
Probability 0.17 0.20 0.17 0.14 0.15 0.12 0.05
Find the probability that an individual
has the following amounts of life insurance.
i) Less
than @10,000
ii) $10,000
to $99,999
iii) $50,000
or more
iv) Less than $50,000 or $100,000 or more