At 100 college campuses, 1,200 full-time undergraduate students were surveyed on their credit card usage. Among juniors, 65% reported that they didn't have a credit card in their own name, and 12% reported that they had at least one credit card in their own name and they maintained a credit card balance. [Source: Glater, J.D. (2008, December 31). The debt trap: Colleges profit as banks market credit cards to students. The New York Times.) Consider this random experiment. A college junior is randomly selected. The junior is interviewed and then categorized into one of the following three categories: she does not have a credit card in her own name, she has at least one credit card in her own name and pays her credit card balance in full each month, or she has at least one credit card in her own name and maintains a credit card balance. Consider the following events. O = The junior does not have a credit card in her own name. C = The junior has at least one credit card in her own name. F = The junior has at least one credit card in her own name and pays her credit card balance in full each month. B = The junior has at least one credit card in her own name and maintains a credit card balance. The events C and F mutually exclusive. The events O, C, F, and B exhaustive. Event B a simple event. The set S = (F, B} the correct description of the sample space for the random experiment because the events in S are Find P(F) and P(C), and enter the probabilities in the following cells: P(F) P(C)

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At 100 college campuses, 1,200 full-time undergraduate students were surveyed on their credit card usage. Among juniors, 65% reported that they
didn't have a credit card in their own name, and 12% reported that they had at least one credit card in their own name and they maintained a credit
card balance. [Source: Glater, J.D. (2008, December 31). The debt trap: Colleges profit as banks market credit cards to students. The New York
Times.]
Consider this random experiment. A college junior is randomly selected. The junior is interviewed and then categorized into one of the following three
categories: she does not have a credit card in her own name, she has at least one credit card in her own name and pays her credit card balance in full
each month, or she has at least one credit card in her own name and maintains a credit card balance.
Consider the following events.
O = The junior does not have a credit card in her own name.
C = The junior has at least one credit card in her own name.
F = The junior has at least one credit card in her own name and pays her credit card balance in full each month.
B = The junior has at least one credit card in her own name and maintains a credit card balance.
The events C and F
mutually exclusive.
The events O, C, F, and B
v exhaustive.
Event B
v a simple event.
The set S = {F, B}
the correct description of the sample space for the random experiment because the events in S are
Find P(F) and P(C), and enter the probabilities in the following cells:
P(F)
P(C)
Transcribed Image Text:At 100 college campuses, 1,200 full-time undergraduate students were surveyed on their credit card usage. Among juniors, 65% reported that they didn't have a credit card in their own name, and 12% reported that they had at least one credit card in their own name and they maintained a credit card balance. [Source: Glater, J.D. (2008, December 31). The debt trap: Colleges profit as banks market credit cards to students. The New York Times.] Consider this random experiment. A college junior is randomly selected. The junior is interviewed and then categorized into one of the following three categories: she does not have a credit card in her own name, she has at least one credit card in her own name and pays her credit card balance in full each month, or she has at least one credit card in her own name and maintains a credit card balance. Consider the following events. O = The junior does not have a credit card in her own name. C = The junior has at least one credit card in her own name. F = The junior has at least one credit card in her own name and pays her credit card balance in full each month. B = The junior has at least one credit card in her own name and maintains a credit card balance. The events C and F mutually exclusive. The events O, C, F, and B v exhaustive. Event B v a simple event. The set S = {F, B} the correct description of the sample space for the random experiment because the events in S are Find P(F) and P(C), and enter the probabilities in the following cells: P(F) P(C)
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