Questions: Homework 7(51,52) Question 4 of 10 (1 point) Question Attempt: 1 of Unlimited 1 2 3 4 5 6 7 8 9 10 Pay Your bills: A company audit showed that of 727 bills that were sent out, 440 were paid on time, 122 were paid up to 30 days late, 69 were paid between 31 and 90 days late, and 96 remained unpaid after 90 days. One bill is selected at random. Part 1 of 2 (a) What is the probability that the bill was paid on time? Round your answer to four decimal places. The probability that the bill was paid on time is 0.6052. Part: 1 / 2 Part 2 of 2 (b) What is the probability that the bill was not paid on time? Round your answer to four decimal places. The probability that the bill was not paid on time is .

Homework 7(51,52)
Question 4 of 10 (1 point) Question Attempt: 1 of Unlimited
1
2
3
4
5
6
7
8
9
10

Pay Your bills: A company audit showed that of 727 bills that were sent out, 440 were paid on time, 122 were paid up to 30 days late, 69 were paid between 31 and 90 days late, and 96 remained unpaid after 90 days. One bill is selected at random.

Part 1 of 2
(a) What is the probability that the bill was paid on time? Round your answer to four decimal places.

The probability that the bill was paid on time is 0.6052.

Part: 1 / 2

Part 2 of 2
(b) What is the probability that the bill was not paid on time? Round your answer to four decimal places.

The probability that the bill was not paid on time is .

Transcript text: Homework $7(51,52)$ Question 4 of 10 (I point) I Question Attempt: 1 of Unlimited $\checkmark 1$ $\checkmark 2$ $\checkmark 3$ 4 5 6 7 8 9 10 Pay Your bills: A company audit showed that of 727 bills that were sent out, 440 were paid on time, 122 were paid up to 30 days late, 69 were paid between 31 and 90 days late, and 96 remained unpaid after 90 days. One bill is selected at random. Part 1 of 2 (a) What is the probability that the bill was paid on time? Round your answer to four decimal places. The probability that the bill was paid on time is 0.6052 . Part: $1 / 2$ Part 2 of 2 (b) What is the probability that the bill was not paid on time? Round your answer to four decimal places. The probability that the bill was not paid on time is $\square$ .

Solution

Solution Steps

Step 1: Identify the Total Population (N)

The total number of items in the population is given as ^N = 727^.

Step 2: Identify the Number of Occurrences of the Specific Outcome of Interest (n_i)

The number of occurrences of the specific outcome of interest is given as ^n_i = 287^ for the outcome ^i = not paid on time^.

Step 3: Calculate the Probability

The probability of the outcome of interest is calculated using the formula $P(i) = \frac{n_i}{N}$. Substituting the given values, we get $P(i) = \frac{287}{727} = 0.395$. After rounding to 4 decimal places, the probability is ^0.395^.