Question
To better understand how husbands and wives feel about their finances, Money Magazine conducted a national poll of1010married adults age25and older with household incomes of$50,000or
To better understand how husbands and wives feel about their finances,Money Magazineconducted a national poll of1010married adults age25and older with household incomes of$50,000or more (Money Magazinewebsite, December14,2014). Consider the following example set of responses to the question, "Who is better at getting deals?"
Round your answers to four decimal places, if necessary.
a.Develop a joint probability table and use it to answer the following questions.
b.Construct the marginal probabilities for Who Is Better (I Am, My Spouse, We Are Equal). Comment.
The probability of "I Am"The probability of "My Spouse"The probability of "We Are Equal"
c.Given that the respondent is a husband, what is the probability that he feels he is better at getting deals than his wife? (todecimals)
d.Given that the respondent is a wife, what is the probability that she feels she is better at getting deals than her husband? (todecimals)
e.Given a response "My spouse" is better at getting deals, what is the probability that the response came from a husband? (todecimals)
f.Given a response "We are equal," what is the probability that the response came from a husband (todecimals, if necessary)?
What is the probability that the response came from a wife (todecimals, if necessary)?
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