Given a pie chart showing the following information on financial shape:
1% - other
6% - excellent
16% - poor
38% - good
39% - fair
A. Suppose 4 people are chosen at random from a group of 1200. What is the probability that all 4 would rate their financial shape as excellent? (use information from pie chart)
B. Suppose 80 people are chosen at random from a group of 500. What is the probability that noe of the 80 people would rate their financial shape as fair? (use the information from the same pie chart)
Please help and show steps. Thanks in advance!
1% - other
6% - excellent
16% - poor
38% - good
39% - fair
A. Suppose 4 people are chosen at random from a group of 1200. What is the probability that all 4 would rate their financial shape as excellent? (use information from pie chart)
B. Suppose 80 people are chosen at random from a group of 500. What is the probability that noe of the 80 people would rate their financial shape as fair? (use the information from the same pie chart)
Please help and show steps. Thanks in advance!