The following problem reflect the reading material you had to prepare for this week. Write it down, and solve it in detail (show all of your steps). In your solutions, you are only to use the math concepts that have been covered in this course up to this point.
A group of students were asked if they carry a credit card. The responses are listed in the table.
Class Credit Card Carrier Not a Credit Card Carrier Total
Freshman 11 42 53
Sophomore 13 34 47
Total 24 76 100
a) If a student is selected at random, find the probability that he or she owns a credit card AND that the student is a sophomore. Round your answer to three decimal places.
b) If a student is selected at random, find the probability that he or she owns a credit card OR that the student is a sophomore. Round your answer to three decimal places.
c) Discuss the difference in part a and b.
