a.
Construct a joint probability table for the data.
b.
Construct the marginal probabilities to buy a car and to pay rent.
Check whether the parents are more likely to assist their adult children with buying a car or paying rent.
Make an interpretation about the marginal probabilities.
c.
Compute the probability that the parents assisted with paying rent if parents provided financial assistance to buy a car.
d.
Find the probability that the parents assisted with paying rent if parents did not provide financial assistance to buy a car.
e.
Check whether financial assistance to buy a car is independent of financial assistance to pay rent or not.
f.
Obtain the probability that parents provided financial assistance for their adult children by either helping buy a car or pay rent.
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Modern Business Statistics with Microsoft Excel (MindTap Course List)
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