A company audit showed that of 875 bills that were sent out, 623 were paid on time,

Question:

A company audit showed that of 875 bills that were sent out, 623 were paid on time, 155 were paid up to 30 days late, 78 were paid between 31 and 90 days late, and 19 were paid after 90 days. One bill is selected at random.

a. What is the probability that the bill was paid on time?

b. What is the probability that the bill was paid late?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Elementary Statistics

ISBN: 9781259969454

3rd Edition

Authors: William Navidi, Barry Monk

Question Posted: