Joint and Marginal Probability
Not what you're looking for?
Through a telephone survey, a low-interest bank credit card is offered to 400 households. The responses are as tabled.
Income = $40,000 Income > $40,000
Accept offer 40 30
Reject offer 210 120
a. Develop a joint probability table and show the marginal probabilities.
b. What is the probability of a household whose income exceeds $40,000 and who rejects the offer?
c. If income is < $40,000, what is the probability the offer will be accepted?
d. If the offer is accepted, what is the probability that income exceeds $40,000?
Purchase this Solution
Solution Summary
Joint and Marginal Probability are investigated. The solution is detailed and well presented. The response received a rating of "5/5" from the student who originally posted the question.
Purchase this Solution
Free BrainMass Quizzes
Exponential Expressions
In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.
Solving quadratic inequalities
This quiz test you on how well you are familiar with solving quadratic inequalities.
Multiplying Complex Numbers
This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.
Graphs and Functions
This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.
Know Your Linear Equations
Each question is a choice-summary multiple choice question that will present you with a linear equation and then make 4 statements about that equation. You must determine which of the 4 statements are true (if any) in regards to the equation.