Business, 25.02.2020 23:59 lillysiege

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 S50,000 or more (Money Magazine website, December 14, 2014). Consider the follow ing example set of responses to the question, "Who is better at getting deals?"

Who Is Better?

Respondent IAm My Spouse We Are Equal Husband Wife 278 290 127 102 102

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

c. Given that the respondent is a husband, what is the probability that he feels he is better

d. Given that the respondent is a wife, what is the probability that she feels she is better

e. Given a response "My spouse," is better at getting deals, what is the probability that

f. Given a response "We are equa" what is the probability that the response came from Equal). Comment. at getting deals than his wife? at getting deals than her husband? the response came from a husband? a husband? What is the probability that the response came from a wife?

Answers: 3

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