SOLUTION: Among a group of 2,500 people, 35 percent invest in Municipal Bonds, 18 percent invest in Oil Stocks, and 7 percent invest in both Municipal Bonds and Oil Stocks. If 1 person is

Question 1136060: Among a group of 2,500 people, 35 percent invest in Municipal Bonds, 18 percent invest in Oil Stocks, and 7 percent invest in both Municipal Bonds and Oil Stocks. If 1 person is to be randomly selected from the 2,500 people, what is the probability that the person selected will be one who invests in Municipa Bonds but Not in Oil Stocks?
Found 2 solutions by Theo, ikleyn:
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
the people who invest in both are presumed to be included in the people who invest in each.

therefore:

35% who invest in municipal bonds minus 7% who invest in both equals 28% who invest in municipal bonds only.

18% who invest in oil stocks minus 7% who invest in both equals 11% who invest in oil stocks only.

the probability that someone invests in municipal bonds but ot in oil stock would be .28.

that should be your solution.

Answer by ikleyn(52790) (Show Source): You can put this solution on YOUR website!
.

The difference of 35% and 7%, which is 35% - 7% = 28%, is your answer.

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