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Questions 27{31. A rm classi es its customer accounts in two ways: according to the balance...
Questions 27{31. A rm classi es its customer accounts in two ways: according to the balance outstanding and according to whether or not the account is overdue. The table below shows the proportions of accounts falling into various categories. Account Balance Overdue Not Overdue Under $100 .08 .42 $100 to $500 .08 .22 Over $500 .04 .16 27. What percentage of accounts are over $500? (a) 20% (b) 4% (c) 80% (d) 88% (e) None of the answers is correct. 28. What percentage of accounts are either not overdue or under $100? (a) 20% (b) 4% (c) 80% (d) 88% (e) None of the answers is correct. 29. If the account is overdue, what is the probability that its balance is under $100? (a) 20% (b) 4% (c) 80% (d) 88% (e) None of the answers is correct. 30. What percentage of accounts that exceed $500 are overdue? (a) 20% (b) 4% (c) 80% (d) 88% (e) None of the answers is correct. 31. Consider accounts with a balance of $500 or less. What percentage of these accounts are not overdue? (a) 20% (b) 4% (c) 80% (d) 88% (e) None of the answers is correct. Please show your work!
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