Question

Online marketplaces have become a popular way for individuals to buy and sell miscellaneous items. The table to the right shows the number of days products stayed active (not sold) on one of these sites and also the price range of the items. Complete parts a through c below.

Price Range | 1-7 Days | 8-30 Days | Over 30 Days | Total |

Under $200 | 118 | 13 | 27 | 158 |

$200-$500 | 196 | 153 | 95 | 444 |

$501-$1,000 | 405 | 530 | 179 | 1114 |

Over $1,000 | 121 | 138 | 36 | 295 |

Total | 840 | 834 | 337 | 2011 |

b. Is the event "1-7 days on the website" independent of the price range $200-$500?

How do I fill in the blanks from the choices provided?

(Yes or No) because the (Sum or Product) of the probabilities of the two events (Does or Does Not) equal the (Joint or Conditional) probability.

Step 1

Let A be the event that product stayed active on website for 1-7 days

Let B be the event that product is in the price range $200-$500

Probability of event A = P(A) = 840/2011

Probability of event B= P(B) = 444/2011

Probability of event A and B = P(AnB) = 196/2011

Step 2

If 2 events are independent then , P(AnB) = P(A) * P(B)

P(A)*P(B) = 840/2011 * 444/2011 = 0.09222

P(AnB) = 196...

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