Do Generation X and Boomers differ in how they use credit cards? A sample of 1,000 Generation X and 1,000 Boomers revealed the results in the accompanying table. Click the icon to view the table. If a respondent is selected at random, what is the probability that he or she a. pays the full amount each month? b. is a Generation X and pays the full amount each month? c. is a Generation X or pays the full amount each month? d. Explain the difference in the results of (b) and (c). a. The probability that a randomly selected respondent pays the full amount each month is. (Round to three decimal places as needed.) b. The probability that a randomly selected respondent is a Generation X and pays the full amount each month is (Round to three decimal places as needed.) c. The probability that a randomly selected respondent is a Generation X or pays the full amount each month is (Round to three decimal places as needed.) d. What is the difference in the results of (b) and (c)? OA. The two events in part (c) are collectively exhaustive, while the event in part (b) is not. OB. The probability in part (b) is a joint probability, while the probability in part (c) is the sum of two marginal probabilities minus a joint probability. OC. The probability in part (b) is a joint probability, while the probability in part (c) is a simple probability. O D. The two events in part (c) are mutually exclusive, but part (b) has only one event. Data table PAY FULL AMOUNT EACH MONTH Yes No Total GENERATION Generation X 380 620 1,000 Print Boomers 550 450 1,000 Done Total 930 1,070 2,000 D - X
Do Generation X and Boomers differ in how they use credit cards? A sample of 1,000 Generation X and 1,000 Boomers revealed the results in the accompanying table. Click the icon to view the table. If a respondent is selected at random, what is the probability that he or she a. pays the full amount each month? b. is a Generation X and pays the full amount each month? c. is a Generation X or pays the full amount each month? d. Explain the difference in the results of (b) and (c). a. The probability that a randomly selected respondent pays the full amount each month is. (Round to three decimal places as needed.) b. The probability that a randomly selected respondent is a Generation X and pays the full amount each month is (Round to three decimal places as needed.) c. The probability that a randomly selected respondent is a Generation X or pays the full amount each month is (Round to three decimal places as needed.) d. What is the difference in the results of (b) and (c)? OA. The two events in part (c) are collectively exhaustive, while the event in part (b) is not. OB. The probability in part (b) is a joint probability, while the probability in part (c) is the sum of two marginal probabilities minus a joint probability. OC. The probability in part (b) is a joint probability, while the probability in part (c) is a simple probability. O D. The two events in part (c) are mutually exclusive, but part (b) has only one event. Data table PAY FULL AMOUNT EACH MONTH Yes No Total GENERATION Generation X 380 620 1,000 Print Boomers 550 450 1,000 Done Total 930 1,070 2,000 D - X
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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Transcribed Image Text:Do Generation X and Boomers differ in how they use credit cards? A sample of 1,000 Generation X and 1,000 Boomers revealed the results in the accompanying table.
Click the icon to view the table.
If a respondent is selected at random, what is the probability that he or she
a. pays the full amount each month?
b. is a Generation X and pays the full amount each month?
c. is a Generation X or pays the full amount each month?
d. Explain the difference in the results of (b) and (c).
a. The probability that a randomly selected respondent pays the full amount each month is
(Round to three decimal places as needed.)
b. The probability that a randomly selected respondent is a Generation X and pays the full amount each month is
(Round to three decimal places as needed.)
c. The probability that a randomly selected respondent is a Generation X or pays the full amount each month is
(Round to three decimal places as needed.)
d. What is the difference in the results of (b) and (c)?
A. The two events in part (c) are collectively exhaustive, while the event in part (b) is not.
B. The probability in part (b) is a joint probability, while the probability in part (c) is the sum of two marginal probabilities minus a joint probability.
C. The probability in part (b) is a joint probability, while the probability in part (c) is a simple probability.
D. The two events in part (c) are mutually exclusive, but part (b) has only one event.
Data table
PAY FULL AMOUNT
EACH MONTH
Yes
No
Total
GENERATION
Generation X
380
620
1,000
Print
Boomers
550
450
1,000
Done
Total
930
1,070
2,000
-
X
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