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The following table represents the highest educational attainment of all adult residents in a certain town. If a resident who is aged 50 or over is chosen at random, what is the probability that they have completed a master's degree? Round your answer to the nearest thousandth.Age 20-29 Age 30-39 Age 40-49 Age 50 & over TotalHigh school only 909 1147 450 584 3090Some college 2066 1381 1609 2507 7563Bachelor's degree 1128 1068 347 760 3303Master's degree 561 633 757 1231 3182Total 4664 4229 3163 5082 17138

Question

The following table represents the highest educational attainment of all adult residents in a certain town. If a resident who is aged 50 or over is chosen at random, what is the probability that they have completed a master's degree? Round your answer to the nearest thousandth.Age 20-29 Age 30-39 Age 40-49 Age 50 & over TotalHigh school only 909 1147 450 584 3090Some college 2066 1381 1609 2507 7563Bachelor's degree 1128 1068 347 760 3303Master's degree 561 633 757 1231 3182Total 4664 4229 3163 5082 17138

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Solution

To find the probability that a randomly chosen resident aged 50 or over has completed a master's degree, follow these steps:

  1. Identify the total number of residents aged 50 or over.
  2. Identify the number of residents aged 50 or over who have completed a master's degree.
  3. Calculate the probability by dividing the number of residents aged 50 or over with a master's degree by the total number of residents aged 50 or over.
  4. Round the result to the nearest thousandth.

Step 1: Total number of residents aged 50 or over: 584+2507+760+1231=5082 584 + 2507 + 760 + 1231 = 5082

Step 2: Number of residents aged 50 or over with a master's degree: 1231 1231

Step 3: Calculate the probability: Probability=12315082 \text{Probability} = \frac{1231}{5082}

Step 4: Perform the division and round to the nearest thousandth: 123150820.242 \frac{1231}{5082} \approx 0.242

Therefore, the probability that a randomly chosen resident aged 50 or over has completed a master's degree is approximately 0.242 0.242 .

This problem has been solved

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