A financial analyst reports that for people who work in the finance industry, the probability that a randomly selected person will have a tattoo is 0.20.

Answer: Is there a question missing?

Step-by-step explanation:

Probability is the numerical measurement of the likeliness of an even to/not to occur. The probability of an event to/not to occur is always less or equal to 1 (It is never above 1).

It is possible to find the probability of success or the probability of failure of an event. Success is whatever is favourable to you, and Failure is the unfavourable occurence (s).

For example:

A coin has two sides, a head, and a tail. If you toss it once, you'll either get a head or a tail, both sides have equal likeliness of occurring. It is also important to know that the addition of the probability of success and the probability of failure of an even is exactly 1.

Probability of Success (p) + Probability of Failure (q) = 1

Simply,

p + q = 1

Which means if we are given the probability of the likeliness of an event, we can easily find the probability of its failure by subtracting it from 1.

Suppose we want to know the probability of having a head when the coin is tossed once, because we can only have one of the two sides at a time, we say the probability of having a head is 1 out of 2 possible outcomes. That is,

Probability of having a head = 1/2 or 0.5, which is less than 1.

Also, the probability of having a tail is 0.5. Suppose we didn't know, we can just say

p + q = 1

0.5 + q = 1

q = 1 - 0.5

= 0.5

In your statement above, the probability that a randomly selected person will have a tattoo is 0.2 tells us that 20%, or 1 out every 5 persons in the industry have a tattoo (0.2 is 20% of 1).