Use the following information to answer the exercise: A recent poll concerning credit cards found that 35 percent of respondents use a credit card that gives them a mile of air travel for every dollar they charge. Thirty percent of the respondents charge more than $2,000 per month. Of those respondents who charge more than $2,000, 80 percent use a credit card that gives them a mile of air travel for every dollar they charge. What is the probability that a randomly selected respondent will spend more than $2,000 AND use a credit card that gives them a mile of air travel for every dollar they charge? a. (0.30)(0.35) b. (0.80)(0.35) c. (0.80)(0.30) d. (0.80)
Use the following information to answer the exercise: A recent poll concerning credit cards found that 35 percent of respondents use a credit card that gives them a mile of air travel for every dollar they charge. Thirty percent of the respondents charge more than $2,000 per month. Of those respondents who charge more than $2,000, 80 percent use a credit card that gives them a mile of air travel for every dollar they charge. What is the probability that a randomly selected respondent will spend more than $2,000 AND use a credit card that gives them a mile of air travel for every dollar they charge? a. (0.30)(0.35) b. (0.80)(0.35) c. (0.80)(0.30) d. (0.80)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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Transcribed Image Text:Use the following information to answer the exercise: A recent poll concerning credit cards
found that 35 percent of respondents use a credit card that gives them a mile of air travel for
every dollar they charge. Thirty percent of the respondents charge more than $2,000 per
month. Of those respondents who charge more than $2,000, 80 percent use a credit card that
gives them a mile of air travel for every dollar they charge.
What is the probability that a randomly selected respondent will spend more than $2,000 AND
use a credit card that gives them a mile of air travel for every dollar they charge?
a. (0.30)(0.35)
b. (0.80)(0.35)
c. (0.80)(0.30)
d. (0.80)
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