In one town, 8% of 18-29 year olds own a house, as do 27% of 30-50 year olds and 50% of those over 50.According to a recent census taken in the town, 28.1% of adults in the town are 18-29 years old, 39.0% are30-50 years old, and 32.9% are over 50. What is the probability that a randomly selected adult owns a house?Round to the nearest thousandth when necessary.
A) 0.292
B) 0.283
C) 0.029
D) 0.187

Question

Quizplus · Accepted Answer

To find the probability that a randomly selected adult owns a house, we calculate the weighted average of homeownership rates across the age groups, using the population distribution as weights. The calculation is as follows: (0.08 * 0.281) + (0.27 * 0.390) + (0.50 * 0.329) = 0.292.

In One Town, 8% of 18-29 Year Olds Own a House