Question 1047059: Here is the distribution of the adjusted gross income (in thousands of dollars) reported on individual federal income tax returns in a particular year. (Round your answers to three decimal places.)
Income <5 15-29 30-99 100-199 ≥200
Probability 0.266 0.213 0.382 0.104 0.035
(a) What is the probability that a randomly chosen return shows an adjusted gross income of $30,000 or more?
(b) Given that a return shows an income of at least $30,000, what is the conditional probability that the income is at least $100,000?
Answer by Boreal(15235)   (Show Source):
You can put this solution on YOUR website! A, Probability <$30,000 is 0.479, so the probability more than $30,000 is 0.521
Given that it is >=$30,000, (0.521), the probability it is greater than $100,000 is 0.1075/0.521, or 0.2063.
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