SOLUTION: 25% of individuals in a certain city earns more than $45,000 per year. The percentage of individuals earning more than $45,000 and having a college degree is 10. Suppose that a p

Question 1050767: 25% of individuals in a certain city earns more than $45,000 per year.
The percentage of individuals earning more than $45,000 and having a college degree is 10. Suppose that a person is randomly chosen and turns out to be earning more than $45,000 . What is the probability that he or she is a college graduate.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
25% of individuals in a certain city earns more than $45,000 per year.
The percentage of individuals earning more than $45,000 and having a college degree is 10. Suppose that a person is randomly chosen and turns out to be earning more than $45,000 . What is the probability that he or she is a college graduate.
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P(> 45000) = 0.25
P(> 45000 AND cd) = 0.10
P(cd |> 45000) = 0.10/0.25 = 2/5
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Cheers,
Stan H.
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