A company audit showed that of 618 bills that were sent out, 380 were paid on time, 144 were paid up to 30 days late, 57 were paid between 31 and 90 days late, and 37 remained unpaid after 90 days. One bill is selected at random.Part: 0 / 20 of 2 Parts CompletePart 1 of 2(a) What is the probability that the bill was paid on time? Round your answer to four decimal places.The probability that the bill was paid on time is 1.6263
Question
A company audit showed that of 618 bills that were sent out, 380 were paid on time, 144 were paid up to 30 days late, 57 were paid between 31 and 90 days late, and 37 remained unpaid after 90 days. One bill is selected at random.Part: 0 / 20 of 2 Parts CompletePart 1 of 2(a) What is the probability that the bill was paid on time? Round your answer to four decimal places.The probability that the bill was paid on time is 1.6263
Solution
The calculation provided seems incorrect. To find the probability that the bill was paid on time, we need to divide the number of bills paid on time by the total number of bills.
Here's how to do it:
Step 1: Identify the total number of bills and the number of bills paid on time. From the problem, we know that the total number of bills is 618 and the number of bills paid on time is 380.
Step 2: Divide the number of bills paid on time by the total number of bills.
So, the calculation is 380 / 618 = 0.6152
Therefore, the probability that a bill was paid on time is 0.6152 or 61.52% when rounded to four decimal places.
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