(Solved): A large life insurance company is interested in studying the insurance policies held by married co ...

A large life insurance company is interested in studying the insurance policies held by married couples. In particular, the insurance company is interested in the amount of insurance held by husbands and wives. The insurance company collects data for all of its 1000 policies where both the husband and the wife are insured. The results are summarized in the following table. Step 1 of 2: For a randomly selected policy, what is the probability that the wife will have between \( \$ 100,000 \) and \( \$ 150,000 \) of insurance and the husband will have between \( \$ 0 \) and \( \$ 50,000 \) of insurance? Round your answer to three decimal places, if necessary.