Solved: In Exercise, use the table, which shows the

Chapter , Problem 14E

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QUESTION:

Problem 14E

In Exercise, use the table, which shows the approximate distribution of the sizes of firms for a recent year. (Source: Adapted from U.S. Small Business Administration)
Number of employees 1 to 4 5 to 9 10 to 19 20 to 99 100 or more
Percent of firms 42.9% 15.1% 9.6% 10.0% 22.4%
Find the probability that a randomly selected firm will have fewer than 20 employees.

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QUESTION:

Problem 14E

In Exercise, use the table, which shows the approximate distribution of the sizes of firms for a recent year. (Source: Adapted from U.S. Small Business Administration)
Number of employees 1 to 4 5 to 9 10 to 19 20 to 99 100 or more
Percent of firms 42.9% 15.1% 9.6% 10.0% 22.4%
Find the probability that a randomly selected firm will have fewer than 20 employees.

ANSWER:

Solution :

Step 1 of 1:

Given the sizes of firms for a recent year table is given below,

Number of employees

1 to 4

5 to 9

10 to 19

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