It is widely known that wage levels and real estate prices follow, i.e. that in areas where salaries are generally high, so are real estate prices and vice versa. The table below shows the distribution of people according to their salary level and the real estate price where they live. a. According to the table, what percentage of people have a high salary level? b.What is the probability that a person with a low salary lives in an area with high real estate prices? c. What is the probability that a person living in an area with high real estate prices has a low salary?
It is widely known that wage levels and real estate prices follow, i.e. that in areas where salaries are generally high, so are real estate prices and vice versa. The table below shows the distribution of people according to their salary level and the real estate price where they live. a. According to the table, what percentage of people have a high salary level? b.What is the probability that a person with a low salary lives in an area with high real estate prices? c. What is the probability that a person living in an area with high real estate prices has a low salary?
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.6: Percents Problems
Problem 3WE
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It is widely known that wage levels and real estate prices follow, i.e. that in areas where salaries are generally high, so are real estate prices and vice versa. The table below shows the distribution of people according to their salary level and the real estate price where they live.
a. According to the table, what percentage of people have a high salary level?
b.What is the
c. What is the probability that a person living in an area with high real estate prices has a low salary?
Transcribed Image Text:Salary level
Real estate price
Low
Mid
High
Low
15%
10%
2,5%
Mid
7,5%
20%
10%
High
5%
12,5%
17,5%
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VIEWStep 4: Find the probability that a person living in an area with high real estate prices has a low salary.
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