A survey asked subjects whether they are a member of an environmental group and whether they would be very willing to pay higher prices to protect the environment. The results are shown in the table below. For a randomly selected adult, find the probabilities specified in parts (a) through (d). a. Estimate the probability of being a member of an environmental group. P(GRNGROUP)= (Round to the nearest thousandth as needed.) Estimate the probability of being willing to pay higher prices to protect the environment. P(GRNPRICE)= (Round to the nearest thousandth as needed.) b. Estimate the probability of being both a member of an environmental group and very willing to pay higher prices to protect the environment. P(GRNGROUP and GRNPRICE)=] (Round to the nearest thousandth as needed.) c. Given the probabilities in (a), calculate the probability in (b) if the variables were independent. P(GRNGROUP and GRNPRICE)=
A survey asked subjects whether they are a member of an environmental group and whether they would be very willing to pay higher prices to protect the environment. The results are shown in the table below. For a randomly selected adult, find the probabilities specified in parts (a) through (d). a. Estimate the probability of being a member of an environmental group. P(GRNGROUP)= (Round to the nearest thousandth as needed.) Estimate the probability of being willing to pay higher prices to protect the environment. P(GRNPRICE)= (Round to the nearest thousandth as needed.) b. Estimate the probability of being both a member of an environmental group and very willing to pay higher prices to protect the environment. P(GRNGROUP and GRNPRICE)=] (Round to the nearest thousandth as needed.) c. Given the probabilities in (a), calculate the probability in (b) if the variables were independent. P(GRNGROUP and GRNPRICE)=
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A survey asked subjects whether they are a member of an environmental group and whether they would be very willing to pay higher prices to protect the environment. The results are shown in the table below. For a randomly selected adult, find the probabilities specified in parts (a) through (d).
a. Estimate the probability of being a member of an environmental group.
P(GRNGROUP)=
(Round to the nearest thousandth as needed.)
Estimate the probability of being willing to pay higher prices to protect the environment.
P(GRNPRICE)=
(Round to the nearest thousandth as needed.)
b. Estimate the probability of being both a member of an environmental group and very willing to pay higher prices to protect the environment.
P(GRNGROUP and GRNPRICE)=]
(Round to the nearest thousandth as needed.)
c. Given the probabilities in (a), calculate the probability in (b) if the variables were independent.
P(GRNGROUP and GRNPRICE)=
d. Estimate the probability that a person is a member of an environmental group or very willing to pay higher prices to protect the environment. Do this directly using the counts in the table.
P(GRNGROUP or GRNPRICE)=
(Round to the nearest thousandth as needed.)
Estimate the probability that a person is a member of an environmental group or very willing to pay higher prices to protect the environment. Do this by applying the appropriate probability rule to the estimated probabilities found in (a) and (b).
P(GRNGROUP or GRNPRICE)=
(Round to the nearest thousandth as needed.)
Transcribed Image Text:**Transcription of Data Table for Educational Website**
**Title: Relationship Between Environmental Group Membership and Willingness to Pay Higher Prices**
This table presents data on whether individuals who are members of an environmental group (GRNGROUP) are willing to pay higher prices for goods (GRNPRICE). The breakdown of responses is as follows:
- **Environmental Group Member (GRNGROUP)**
- **Yes**
- Pay Higher Prices: 28
- Do Not Pay Higher Prices: 64
- Total Members: 92
- **No**
- Pay Higher Prices: 89
- Do Not Pay Higher Prices: 935
- Total Non-members: 1024
- **Overall Totals**:
- Pay Higher Prices: 117
- Do Not Pay Higher Prices: 999
- Total Participants: 1116
**Analysis Insight**:
From the dataset, out of 92 individuals who are members of an environmental group, 28 are willing to pay higher prices, compared to 89 out of 1024 who are not members but are willing to pay higher prices. The total number of participants surveyed is 1116, with a majority not willing to pay higher prices regardless of group membership. This table can be used to analyze the influence of environmental group membership on consumer pricing behavior.
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