Types of bonds are divided into three categories: good risk, medium risk, and poor risk. Assume that of a total of 13,838 bonds, 7,035 are good risk, 1,388 are medium risk, and the rest are poor risk. One bond is chosen risk? Write only a number as your answer. Round to two decimal places (for example: 0.43). Do not write as a percentage.
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"One bond is chosen risk?"
To find the probability of selecting a bond that is poor risk, we need to know the total number of bonds that are poor risk.
Given that there are 7,035 good risk bonds and 1,388 medium risk bonds, we can calculate the number of poor risk bonds by subtracting the sum of good risk and medium risk bonds from the total number of bonds:
Total number of bonds = 13,838
Number of good risk bonds = 7,035
Number of medium risk bonds = 1,388
Number of poor risk bonds = Total number of bonds - (Number of good risk bonds + Number of medium risk bonds)
= 13,838 - (7,035 + 1,388)
= 13,838 - 8,423
= 5,415
Now, to find the probability of selecting a poor risk bond, divide the number of poor risk bonds by the total number of bonds:
Probability = Number of poor risk bonds / Total number of bonds
= 5,415 / 13,838
≈ 0.39
So, the probability of selecting a poor risk bond is approximately 0.39.