Question: A government study of personal bankruptcies looked at what the

A government study of personal bankruptcies looked at what the authors called the “trajectory” of two groups of individuals who had declared bankruptcy. One group was classifed as “on the way up.” These were individuals whose gross income had risen in each of the three years prior to bankruptcy. The other group consisted of individu-als “on the way down”—people whose gross income had fallen for three consecutive years prior to bankruptcy. The following table shows the “trajectory” category and the income level for 332 people included in the study
a. If you select someone at random from the study, how likely is that the individual was “on the way up” and had an income of \$50,000 or more?
b. What percent of the individuals who were “on the way down” had an income between \$20,000 and \$30,000?
c. If you select someone at random from the study and fnd they had an income under \$10,000, how likely is it that they were “on the way down?”

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