Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 3.4, Problem 52E
To determine
The joint probability of ‘high income’ and ‘never’.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A local university has a student population that is 57% male. 64% of the students are undergraduates; 40% are both male and undergraduates. What is the probability that a randomly selected student is either male or an undergraduate?
Instructions: Answer all questions. Show all working.
1. One hundred persons were asked, "Do you favour regional integration?". Of the 35 that
answered "no" to the question, 14 were female. Of the 65 that answered "yes" to the
question, 30 were female.
a) Draw a completed contingency table, showing totals, to illustrate the information
above.
b) If one person was randomly selected, what is the probability that the person is:
(i) female?
(ii) female or responded “no”?
(iii) female given that they responded “no”?
An experiment consists of four outcomes with P(E1) = 0.2, P(E2) = 0.3, and P(E3) = 0.4. The probability of outcome E4 is
Group of answer choices
0.900.
0.500.
0.024.
0.100.
Chapter 3 Solutions
Statistics for Business and Economics
Ch. 3.1 - Prob. 1ECh. 3.1 - Prob. 2ECh. 3.1 - Prob. 3ECh. 3.1 - Prob. 4ECh. 3.1 - Prob. 5ECh. 3.1 - Prob. 6ECh. 3.1 - Prob. 7ECh. 3.2 - Prob. 8ECh. 3.2 - Prob. 9ECh. 3.2 - Prob. 10E
Ch. 3.2 - Prob. 11ECh. 3.2 - In a city of 180,000 people there are 20,000 legal...Ch. 3.2 - Prob. 13ECh. 3.2 - Prob. 14ECh. 3.2 - Prob. 15ECh. 3.2 - Prob. 16ECh. 3.2 - Prob. 17ECh. 3.2 - Prob. 18ECh. 3.3 - Prob. 19ECh. 3.3 - Prob. 20ECh. 3.3 - Prob. 21ECh. 3.3 - Prob. 22ECh. 3.3 - Prob. 23ECh. 3.3 - Prob. 24ECh. 3.3 - Prob. 25ECh. 3.3 - Prob. 26ECh. 3.3 - Prob. 27ECh. 3.3 - Prob. 28ECh. 3.3 - Prob. 29ECh. 3.3 - Prob. 30ECh. 3.3 - Prob. 31ECh. 3.3 - Prob. 32ECh. 3.3 - Prob. 33ECh. 3.3 - Prob. 34ECh. 3.3 - Prob. 35ECh. 3.3 - Prob. 36ECh. 3.3 - Prob. 37ECh. 3.3 - Prob. 38ECh. 3.3 - Prob. 39ECh. 3.3 - Prob. 40ECh. 3.3 - Prob. 41ECh. 3.3 - Prob. 42ECh. 3.3 - Prob. 43ECh. 3.3 - Prob. 44ECh. 3.3 - Prob. 45ECh. 3.3 - Prob. 46ECh. 3.3 - Prob. 47ECh. 3.3 - Prob. 48ECh. 3.3 - Prob. 49ECh. 3.3 - Prob. 50ECh. 3.3 - Prob. 51ECh. 3.4 - Prob. 52ECh. 3.4 - Prob. 53ECh. 3.4 - Prob. 54ECh. 3.4 - Prob. 55ECh. 3.4 - Prob. 56ECh. 3.4 - Prob. 57ECh. 3.4 - Prob. 58ECh. 3.4 - Prob. 59ECh. 3.4 - Prob. 60ECh. 3.4 - Prob. 61ECh. 3.4 - Prob. 62ECh. 3.4 - Prob. 63ECh. 3.4 - Prob. 64ECh. 3.4 - Prob. 65ECh. 3.4 - Prob. 66ECh. 3.4 - Prob. 67ECh. 3.4 - Prob. 68ECh. 3.4 - Prob. 69ECh. 3.4 - Prob. 70ECh. 3.4 - Prob. 71ECh. 3.4 - Prob. 72ECh. 3.4 - Prob. 73ECh. 3.4 - Prob. 74ECh. 3.4 - Prob. 75ECh. 3.4 - Prob. 76ECh. 3.4 - Prob. 77ECh. 3.5 - Prob. 78ECh. 3.5 - Prob. 79ECh. 3.5 - Prob. 80ECh. 3.5 - Prob. 81ECh. 3.5 - Prob. 82ECh. 3.5 - Prob. 83ECh. 3.5 - Prob. 84ECh. 3.5 - Prob. 85ECh. 3.5 - Prob. 86ECh. 3.5 - Prob. 87ECh. 3 - Prob. 88ECh. 3 - Prob. 89ECh. 3 - Prob. 90ECh. 3 - Prob. 91ECh. 3 - Prob. 92ECh. 3 - Prob. 93ECh. 3 - Prob. 94ECh. 3 - Prob. 95ECh. 3 - Prob. 96ECh. 3 - Prob. 97ECh. 3 - Prob. 98ECh. 3 - Prob. 99ECh. 3 - Prob. 100ECh. 3 - Prob. 101ECh. 3 - Prob. 102ECh. 3 - Prob. 103ECh. 3 - Prob. 104ECh. 3 - Prob. 105ECh. 3 - Prob. 106ECh. 3 - Prob. 107ECh. 3 - Prob. 108ECh. 3 - Prob. 109ECh. 3 - Prob. 110ECh. 3 - Prob. 111ECh. 3 - Prob. 112ECh. 3 - Prob. 113ECh. 3 - Prob. 114ECh. 3 - Prob. 115ECh. 3 - Prob. 116ECh. 3 - Prob. 117ECh. 3 - Prob. 118ECh. 3 - Prob. 119ECh. 3 - Prob. 120ECh. 3 - Prob. 121ECh. 3 - Prob. 122E
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- According to the U.S. Bureau of the Census, about 75% of commuters in the United States drive to work alone. Suppose 150 U.S. commuters are randomly sampled. (a) What is the probability that fewer than 105 commuters drive to work alone?(b) What is the probability that between 116 and 126 (inclusive) commuters drive to work alone?(c) What is the probability that more than 96 commuters drive to work alone?arrow_forwardA restaurant manager classifies customers as regular, occasional, or new, and finds that of all customers 50%, 40%, and 10%, respectively, fall into these categories. The manager found that wine was ordered by 70% of the regular customers, by 50% of the occasional customers, and by 30% of the new customers.a. What is the probability that a randomly chosen customer orders wine?b. If wine is ordered, what is the probability that the person ordering is a regular customer?c. If wine is ordered, what is the probability that the person ordering is an occasional customer?arrow_forwardFor a group of 300 cars the numbers, classified by colour and country of manufacture, are shown in the Black Silver White Korea 33 34 35 Japan 23 9 24 America 16 25 34 Germany 19 16 32 One car is selected at random from this group. Find the probability that the selected car is a black or white car manufactured in Korea.arrow_forward
- 5 Historical data indicates that only 35% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 12 cable customers, what is the probability that between 3 and 5 (inclusive) customers are willing to switch companies? (Use TI 84 and round answer to at least 3 decimal places)arrow_forwardOne hundred persons were asked, "Do you favour regional integration?". Of the 35 that answered "no" to the question, 14 were female. Of the 65 that answered "yes" to the question, 30 were female.a)Draw a completed contingency table, showing totals, to illustrate the information above. b)If one person was randomly selected, what is the probability that the person is:(i) female? (ii) female or responded “no”? (iii) female given that they responded “no”?arrow_forwardRefer to Table 3.10.What is the joint probability of “middle income” and “never”?arrow_forward
- The probability that the next President will be a Democrat is 0.5, and the probability that the next President will be a woman is 0.3. The probability the next President will be a woman and a Democrat is 0.1. What is the probability the next President will be a Democrat or a woman?arrow_forwardA few minutes ago, Joe Doe learned that his company was having a bad year and thus merit salary increases will be smaller than expected. His division’s budget has been set and so he knows that he will receive a salary increase of $400 over his present salary. Joe Doe has also been offered a transfer to another division in the company. He is unsure of the salary situation in the other division. However, his best information leads him to conclude that if he took the new job, there is a 60% chance that he would receive a salary increase of $600 over his present salary, and a 40% chance that he would receive only a $150 increase over his present salary. To summarize, Joe Doe can either stick with his current job and get a salary increase of $400, or take a transfer to a new job and get a salary increase of either $600 with a 60% probability, or $150 with a 40% probability. Amount ($X) Value (v($X)) $0 -5 $150 -2.5 $200 -2 $300 0 $350 0.5 $400 1 $600 1.85…arrow_forwardA study at a college on the west coast reveals that, historically, 36% of thestudents are minority students. If a random sample of 100 students is selected, what isthe probability that between 26.4% and 40.8% students in the sample will be minoritystudents?A) 0.8150B) 0.8385C) 0.9735D) There is not enough information to obtain the answer.arrow_forward
- For a group of 300 cars the numbers, classified by color and country of manufacture, are shown in the Black Silver White Korea 33 34 35 Japan 23 9 24 America 16 25 34 Germany 19 16 32 One car is selected at random from this group. Find the probability that the selected car is not manufactured in Japan.arrow_forwardA mutual fund company has 6 funds that invest in the U.S. market and 4 that invest in international markets. A customer wants to invest in two U.S. funds and 2 international funds.a. How many different sets of funds from this company could the investor choose?b. Unknown to this investor, one of the U.S. funds and one of the international funds will seriously underperform next year. If the investor selects funds for purchase at random, what is the probability that at least one of the chosen funds will seriously underperform next year?arrow_forwardGiven a binomial distribution, n = 6 and π = .25. Determine the probability given x = 2 using the binomial formula.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSON
Engineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education