Survey of Top Executives Reading Habits

What is the reading habit of top executives based on the survey data?

The top executives have different reading habits based on the survey data. 35% of them regularly read Time Magazine, 20% read Newsweek, and 40% read U.S. News & World Report. Additionally, a total of 10% of them read both Time and U.S. News & World Report. From this data, what is the probability that a particular top executive reads either Time or U.S. News & World Report regularly?

To calculate the probability that a particular top executive reads either Time or U.S. News & World Report regularly, we need to consider the probabilities of individual reading habits and the overlapping reading habits of both magazines.

Let's define the probabilities:

Probability of Time Magazine readers (P.TM) = 0.35

Probability of U.S. News & World Report readers (P.UW) = 0.40

Probability of both Time and U.S. News & World Report readers (P.TM ∩ P.UW) = 0.10

Given the probability equation of:

(P.TM ∪ P.UW) = (P.TM) + (P.UW) - (P.TM ∩ P.UW)

Calculating the probability:

(P.TM ∪ P.UW) = 0.35 + 0.40 - 0.10

(P.TM ∪ P.UW) = 0.65

Final Answer:

The probability of a top executive regularly reading either Time Magazine or U.S. News & World Report is 65%.

Explanation:

This calculation is based on the principles of probability and statistics in mathematics. When considering the reading habits of top executives, we add the probabilities of reading Time Magazine and U.S. News & World Report separately, then subtract the overlapping probability of reading both magazines. Therefore, there is a 65% chance that a particular top executive reads either Time Magazine or U.S. News & World Report regularly.