The following table represents the highest educational attainment of all adult residents in a certain town. If a resident who has a master's degree is chosen at random, what is the probability that they are aged 40-49? Round your answer to the nearest thousandth. Age 20-29 Age 30-39 Age 40-49 Age 50 & over Total High school only 1330 933 538 1806 4607 Some college 735 710 624 2003 4072 Bachelor's degree 1744 628 392 712 3476 Master's degree 765 984 563 1351 3663 Total 4574 3255 2117 5872 15818
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
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