the focus on building relationships with customers. the buying procedures the focus on derived demand. the long-term amount of money involved. In an experiment, college students were given either four quarters or a $1 bill and they could either keep the money or spend it on gum. The results are summarized in the table. Complete parts (a) through (c) below. Students Given Four Quarters Students Given a $1 Bill Purchased Gum 30 Kept the Money 19 13 26 a. Find the probability of randomly selecting a student who spent the money, given that the student was given four quarters. The probability is (Round to three decimal places as needed.) b. Find the probability of randomly selecting a student who kept the money, given that the student was given four quarters. The probability is (Round to three decimal places as needed.) c. What do the preceding results suggest? OA. A student given four quarters is more likely to have kept the money. OB. A student given four quarters is more likely to have spent the money than a student given a $1 bill. OC. A student given four quarters is more likely to have kept the money than a student given a $1 bill. OD. A student given four quarters is more likely to have spent the money.
the focus on building relationships with customers. the buying procedures the focus on derived demand. the long-term amount of money involved. In an experiment, college students were given either four quarters or a $1 bill and they could either keep the money or spend it on gum. The results are summarized in the table. Complete parts (a) through (c) below. Students Given Four Quarters Students Given a $1 Bill Purchased Gum 30 Kept the Money 19 13 26 a. Find the probability of randomly selecting a student who spent the money, given that the student was given four quarters. The probability is (Round to three decimal places as needed.) b. Find the probability of randomly selecting a student who kept the money, given that the student was given four quarters. The probability is (Round to three decimal places as needed.) c. What do the preceding results suggest? OA. A student given four quarters is more likely to have kept the money. OB. A student given four quarters is more likely to have spent the money than a student given a $1 bill. OC. A student given four quarters is more likely to have kept the money than a student given a $1 bill. OD. A student given four quarters is more likely to have spent the money.
Chapter2: Mathematics For Microeconomics
Section: Chapter Questions
Problem 2.15P
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Transcribed Image Text:the focus on building relationships with customers.
the buying procedures
the focus on derived demand.
the long-term amount of money involved.
Transcribed Image Text:In an experiment, college students were given either four quarters or a $1 bill and they could either keep the money
or spend it on gum. The results are summarized in the table. Complete parts (a) through (c) below.
Students Given Four Quarters
Students Given a $1 Bill
Purchased Gum
30
Kept the Money
19
13
26
a. Find the probability of randomly selecting a student who spent the money, given that the student was given four
quarters.
The probability is
(Round to three decimal places as needed.)
b. Find the probability of randomly selecting a student who kept the money, given that the student was given four
quarters.
The probability is
(Round to three decimal places as needed.)
c. What do the preceding results suggest?
OA. A student given four quarters is more likely to have kept the money.
OB. A student given four quarters is more likely to have spent the money than a student given a $1 bill.
OC. A student given four quarters is more likely to have kept the money than a student given a $1 bill.
OD. A student given four quarters is more likely to have spent the money.
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