The following chart shows the (approximate) total number of subprime home mortgages in a state in November 2008, broken down into four categories. (The four categories are mutually exclusive; for instance, "Past Due" refers to a mortgage whose payment status is past due but is not in foreclosure, and "In Foreclosure" refers to a mortgage that is in the process of being foreclosed but not yet repossessed.) (a)Find the probability that a randomly selected subprime mortgage in the state during November 2008 was neither in foreclosure nor repossessed. (b) What is the probability that a randomly selected subprime mortgage in the state during November 2008 was not current?
The following chart shows the (approximate) total number of subprime home mortgages in a state in November 2008, broken down into four categories. (The four categories are mutually exclusive; for instance, "Past Due" refers to a mortgage whose payment status is past due but is not in foreclosure, and "In Foreclosure" refers to a mortgage that is in the process of being foreclosed but not yet repossessed.) (a)Find the probability that a randomly selected subprime mortgage in the state during November 2008 was neither in foreclosure nor repossessed. (b) What is the probability that a randomly selected subprime mortgage in the state during November 2008 was not current?
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The following chart shows the (approximate) total number of subprime home mortgages in a state in November 2008, broken down into four categories.
(The four categories are mutually exclusive; for instance, "Past Due" refers to a mortgage whose payment status is past due but is not in foreclosure, and "In Foreclosure" refers to a mortgage that is in the process of being foreclosed but not yet repossessed.)
(a)Find the probability that a randomly selected subprime mortgage in the state during November 2008 was neither in foreclosure nor repossessed.
(b)
What is the probability that a randomly selected subprime mortgage in the state during November 2008 was not current?
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