Question

in 1970, 85% of 30 - year - olds in a country earned more than their parents did at age 30 (adjusted for inflation). in 2014, only 45% of 30 - year - olds in the same country earned more than their parents did at age 30. complete parts a to d below.
(a) what is the probability a randomly selected 30 - year - old in 1970 earned more than their parents at age 30?
the probability is
(round to four decimal places as needed.)

Explanation:

Step1: Identify given percentage

The problem states that in 1970, 85% of 30 - year - olds earned more than their parents at age 30.

Step2: Convert percentage to decimal

To convert a percentage to a decimal, divide by 100. So, $85\div100 = 0.8500$.

Answer:

$0.8500$