The following chart shows the (approximate) total number of subprime home mortgages in a state in November 2008, broken down into four categories. In Mortgage Status Past Current Repossessed Total Due Foreclosure Number 136,330 54,310 8,950 5,890 205,480 (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. HINT [See Example 1.] (Round your answer to two decimal places.) (b) What is the probability that a randomly selected subprime mortgage in the state during November 2008 was not current? (Round your answer to two decimal places.)
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
![The following chart shows the (approximate) total number of subprime home
mortgages in a state in November 2008, broken down into four categories.
Mortgage
Status
Past
In
Current
Repossessed
Total
Due
Foreclosure
Number 136,330| 54,310
8,950
5,890
205,480
(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.
HINT [See Example 1.] (Round your answer to two decimal places.)
(b) What is the probability that a randomly selected subprime mortgage in
the state during November 2008 was not current? (Round your answer to
two decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7e429593-6e13-44c1-8905-8c3b07eda7a0%2Ff7b9090d-d1a2-4736-b371-66e024f2c69d%2F68170w_processed.jpeg&w=3840&q=75)
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