Math  /  Probability

QuestionCalculate the probabilities for home ownership statuses:
a. Own: 27%27\% b. Rent: 48%48\% c. No mortgage: 48%+27%=75%48\% + 27\% = 75\%.

Studdy Solution
Calculate the probability that a randomly selected applicant does not have a mortgage.
(NotMortgage)=100%25%=75%=0.75(Not\, Mortgage) =100\% -25\% =75\% =0.75So, the probabilities are as followsa. The probability that a randomly selected applicant owns his/her home is0.27. b. The probability that a randomly selected applicant rents is0.48. c. The probability that a randomly selected applicant does not have a mortgage is0.75.

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