A market research firm is interested in surveying certain attitudes in a small community There are 125 households broken down according to income, ownership of a telephone or ownership of a TV Household with monthly Household with monthly 8.000 income of " 8,000 or less Telephone Subscriber income above No Telephone Telephone Subscriber No. Telephone Own 7.V, set 27 20 18 10 No. T.V. set 18 10 12 10 (i) What is the probability of obtaining of a TV. owner in drawing at random ? (ii) If a household has monthly income over Rs. 8,000 and is a telephone subscriber, what is the probability that it has a T.V. ? (iii) What is the conditional probability of drawing a household that owns a T.V. given that the household is a telephone subscriber? (iv) Are the events 'ownership of a T.V.' and 'telephone subscriber statistically independent ? Comment.

A market research firm is interested in surveying certain attitudes in a small community There are 125 households broken down according to income, ownership of a telephone or ownership of a TV Household with monthly Household with monthly 8.000 income of " 8,000 or less Telephone Subscriber income above No Telephone Telephone Subscriber No. Telephone Own 7.V, set 27 20 18 10 No. T.V. set 18 10 12 10 (i) What is the probability of obtaining of a TV. owner in drawing at random ? (ii) If a household has monthly income over Rs. 8,000 and is a telephone subscriber, what is the probability that it has a T.V. ? (iii) What is the conditional probability of drawing a household that owns a T.V. given that the household is a telephone subscriber? (iv) Are the events 'ownership of a T.V.' and 'telephone subscriber statistically independent ? Comment.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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