A survey of top executives revealed that 37% of them regularly read Time magazine, 21% read Newsweek and 38% read U.S. News & World Report. Eleven percent read both Time and U.S. News & World Report. What is the probability that a particular top executive reads either Time or U.S. News & World Report regularly?
0.64
0.29
0.49
1.00
To find the probability that a particular top executive reads either Time or U.S. News & World Report regularly, we need to calculate the probability of reading Time, the probability of reading U.S. News & World Report, and subtract the probability of reading both.
Let's calculate each probability step by step:
1. Probability of reading Time: Given that 37% of top executives read Time, the probability of a particular executive reading Time regularly is 0.37.
2. Probability of reading U.S. News & World Report: Given that 38% of top executives read U.S. News & World Report, the probability of a particular executive reading it regularly is 0.38.
3. Probability of reading both Time and U.S. News & World Report: Given that 11% of top executives read both magazines, the probability of a particular executive reading both regularly is 0.11.
Now, to find the probability of reading either Time or U.S. News & World Report, we can use the formula:
P(Time or U.S. News & World Report) = P(Time) + P(U.S. News & World Report) - P(Time and U.S. News & World Report)
P(Time or U.S. News & World Report) = 0.37 + 0.38 - 0.11
P(Time or U.S. News & World Report) = 0.74 - 0.11
P(Time or U.S. News & World Report) = 0.63
Therefore, the probability that a particular top executive reads either Time or U.S. News & World Report regularly is approximately 0.63.
None of the given answer choices matches exactly with the calculated probability.