Among a group of 2500 people, 35 percent invest in municipal bonds, 18 percent invest in oil stocks, and 7 percent invest in both municipal bonds and oil stocks. If 1 person is to be randomly selected from 2500 people, what is the probability that the person selected will be one who invests in municipal bonds but not in oil stocks?
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7/25 is the probability.
35 percent invests in municipal bonds.
It also includes 7% who invested in both municipal bonds and oil stocks.
So, 35-7 = 28% invests in municipal bonds but not in oil stocks
Therefore, probability = 28/100 = 7/25
7/25 is probability of person only invest in municipal bonds.
Hope it's helpful for you mate
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