SOLUTION: I NEED Help in statistics. Could someone please help me with this. Thank you. The chair of the board of directors says, “There is a 45% chance this company will earn a profit, a 3

Algebra ->  Probability-and-statistics -> SOLUTION: I NEED Help in statistics. Could someone please help me with this. Thank you. The chair of the board of directors says, “There is a 45% chance this company will earn a profit, a 3      Log On


   

Question 184591: I NEED Help in statistics. Could someone please help me with this. Thank you.
The chair of the board of directors says, “There is a 45% chance this company will earn a profit, a 35% chance it will break even, and a 20% chance it will lose money next quarter.”
a. Find the probability they will not lose money next quarter.
b. Find the probability they will lose money next quarter.

Answer by vleith(2983) About Me  (Show Source):
You can put this solution on YOUR website!
a. Find the probability they will not lose money next quarter. This is the sum of the probability that the company makes money and breaks even (in either of those vcases, they didn't lose money). So 45 + 35 = 80%
b. Find the probability they will lose money next quarter. 20%