Subscribers to a local newspaper were asked whether they regularly, occasionally, or never read the business section
Question:
Subscribers to a local newspaper were asked whether they regularly, occasionally, or never read the business section and also whether they had traded common stocks (or shares in a mutual fund) over the last year. The table shown here indicates the proportions of subscribers in six joint classifications.
Traded Read Business Section Stocks Regularly Occasionally Never Yes 0.18 0.10 0.04 No 0.16 0.31 0.21
a. What is the probability that a randomly chosen subscriber never reads the business section?
b. What is the probability that a randomly chosen subscriber has traded stocks over the last year?
c. What is the probability that a subscriber who never reads the business section has traded stocks over the last year?
d. What is the probability that a subscriber who traded stocks over the last year never reads the business section?
e. What is the probability that a subscriber who does not regularly read the business section traded stocks over the last year?
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9781292436845
10th Global Edition
Authors: Paul Newbold, William Carlson, Betty Thorne