HAD RELATIONSHIP	Black	Latino	AAPI	Total
Yes	24	35	32	91
No	8	17	15	40
Total	32	52	47	131 The probability that a randomly selected small business owner has a business relationship with a bank or credit union is

enter your response here.
​(Type an integer or decimal rounded to four decimal places as​ needed.)

To find the probability that a randomly selected small business owner has a business relationship with a bank or credit union, we use the data provided.

Given dataTo find the probability that a randomly selected small business owner has a business relationship with a bank or credit union, we use the data provided.

Given 
- The total number of small business owners surveyed is 131.
- The number of small business owners who have a business relationship ("Yes") is 91.

The probability \( P \) that a randomly selected small business owner has a business relationship with a bank or credit union is calculated by dividing the number of small business owners who have such a relationship by the total number of small business owners surveyed.

\[
P(\text{Relationship}) = \frac{\text{Number of owners with a relationship}}{\text{Total number of owners}}
\]

\[
P(\text{Relationship}) = \frac{91}{131}
\]

Now, we can calculate this value:

\[
P(\text{Relationship}) \approx 0.6947
\]

So, the probability that a randomly selected small business owner has a business relationship with a bank or credit union is approximately **0.6947**.

Would you like further details or have any questions? Here are some related questions to consider:

1. What is the probability that a randomly selected small business owner does not have a business relationship with a bank or credit union?
2. What is the probability that a randomly selected Black small business owner has a business relationship with a bank or credit union?
3. How would you calculate the probability for other specific groups, such as Latino or AAPI business owners?
4. What is the overall percentage of small business owners surveyed who do not have a business relationship with a bank or credit union?
5. How does the probability of having a business relationship differ across different demographic groups?

**Tip:** Probabilities are always calculated as a fraction of the desired outcome over the total number of possible outcomes. Always ensure the denominator represents the entire set of possibilities for accuracy.

Calculate the probability that a randomly selected small business owner has a business relationship with a bank or credit union. Learn how to use statistical data to determine probabilities based on survey results.

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