Chapter 5

Some people are in favor of reducing federal taxes to increase consumer spending and others are against it. Two persons are selected and their opinions are recorded. Assume no one is undecided. Find the number of possible outcomes. Number of possible outcomes A survey of 35 students at the Wall College of Business showed the following majors: Accounting Finance Economics Management Marketing 9 9 Click here for the Excel Data File From the 35 students, suppose you randomly select a student. a. What is the probability he or she is a management major? (Round your answer to 3 decimal places.) Probability b. Which concept of probability did you use to make this estimate? Empirical Randomness Click here for the Excel Data File From the 35 students, suppose you randomly select a student. a. What is the probability he or she is a management major? (Round your answer to 3 decimal places.) Probability b. Which concept of probability did you use to make this estimate? Empirical Randomness Uniformity Inference Classical Excel File Edit View Insert Format AutoSave OFF Home Insert Draw Page Layout Formulas X Calibri (Body) 12 v ' ' v Paste ov A J22 A B D E Students 9 5 3 9 9 35 1 Major 2 Accounting 3 Finance 4 Economics 5 Management 6 Marketing 7 Total 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Ch5_3_18e +