To better understand how husbands and wives feel about their finances, Money Magazine conducted a national poll of 1010 married adults age 25 and older with household incomes of $50,000 or more (Money Magazine website, December 14, 2014). Consider the following example set of responses to the question, “Who is better at getting deals?” Who Is Better? Respondent         I Am    My Spouse     We Are Equal Husband               278          127                    102 Wife                      290            111                  102 Develop a joint probability table and use it to answer the following questions. Construct the marginal probabilities for Who Is Better (I Am, My Spouse, We Are Equal). Comment. Given that the respondent is a husband, what is the probability that he feels he is better at getting deals than his wife? Given that the respondent is a wife, what is the probability that she feels she is better at getting deals than her husband? Given a response “My spouse” is better at getting deals, what is the probability that the response came from a husband? Given a response “We are equal,” what is the probability that the response came from a husband? What is the probability that the response came from a wife?

To better understand how husbands and wives feel about their finances, Money Magazine conducted a national poll of 1010 married adults age 25 and older with household incomes of $50,000 or more (Money Magazine website, December 14, 2014). Consider the following example set of responses to the question, “Who is better at getting deals?”

Who Is Better?

Respondent         I Am    My Spouse     We Are Equal

Husband               278          127                    102

Wife                      290            111                  102

1. Develop a joint probability table and use it to answer the following questions.
2. Construct the marginal probabilities for Who Is Better (I Am, My Spouse, We Are Equal). Comment.
3. Given that the respondent is a husband, what is the probability that he feels he is better at getting deals than his wife?
4. Given that the respondent is a wife, what is the probability that she feels she is better at getting deals than her husband?
5. Given a response “My spouse” is better at getting deals, what is the probability that the response came from a husband?
6. Given a response “We are equal,” what is the probability that the response came from a husband? What is the probability that the response came from a wife?