Question

Types of bonds are divided into three categories: good risk, medium risk, and poor risk. Assume that of a total of 11, 332 bonds, 7,311 are good risk, 1,182 are medium risk, and the rest are poor risk. One bond is chosen at random. What is the probability that the bond is not a poor ? Write only a number as your answer. Round to two decimal places (for example : 0.43). Do not write as a percentage .

Answer 1

Probabilty of not poor= 0.75

Explanation:

total of 11332 bonds.

7311 are good risk.

1182 are medium risk.

Poor risk

= total risk-(good risk+ medium risk)

= 11332-(7311+1182)

= 11332-8493

= 2839.

Poor risk = 2839

Probabilty that the ball choosen at random is not poor= 1 - probability that the ball is poor

Probability of poor = 2839/11332

Probabilty of poor= 0.2505

Probabilty that the ball choosen at random is not poor= 1- 0.2505

= 0.7495

To two decimal place= 0.75