Essentials of Statistics (6th Edition)
6th Edition
ISBN: 9780134685779
Author: Mario F. Triola
Publisher: PEARSON
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Textbook Question
Chapter 4.3, Problem 14BSC
Denomination Effect. In Exercises 13-16, use the data in the following table. In an experiment to study the effects of using four quarters or a $1 bill, college students were given either four quarters or a $1 bill and they could either keep the money or spend it on gum. The results are summarized in the table (based on data from “The Denomination Effect” by Priya Raghubir and Joydeep Srivastava, Journal of Consumer Research, Vol. 36).
14. Denomination Effect
a. Find the
b. Find the probability of randomly selecting a student who kept the money, given that the student was given a $1 bill.
c. What do the preceding results suggest?
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Chapter 4 Solutions
Essentials of Statistics (6th Edition)
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