Question

In: Finance

6. Use the table below, based on data from students enrolled in BMGT 230/230B this semester,...

6. Use the table below, based on data from students enrolled in BMGT 230/230B this semester, to answer/complete parts a. through e. (the cell values are frequencies):

Sex

Political Attitude

Male

Female

Very Conservative

20

2

Somewhat Conservative

62

25

Middle-of-the-Road

100

67

Somewhat Liberal

80

62

Very Liberal

11

21

a. Determine the probability a student selected at random is Conservative (meaning either Very Conservative or Somewhat Conservative).
b. Determine the probability a Male student selected at random is Conservative (meaning either Very Conservative or Somewhat Conservative).
c. Determine the probability a Female student selected at random is Conservative (meaning either Very Conservative or Somewhat Conservative).
d. Given your answers to Parts a, b, and c, are the two dimensions, Political Attitude and Sex, statistically independent?
e. Given your answer to Part d, are the Political Attitudes of Males and Females in the course generally Similar or Different?

Solutions

Expert Solution

Political Attitude Male Female Total
Very Conservative 20 A 2 G 22 M
Somewhat Conservative 62 B 25 H 87 N
Middle-of-the-Road 100 C 67 I 167 O
Somewhat Liberal 80 D 62 J 142 P
Very Liberal 11 E 21 K 32 Q
Total 273 F 177 L 450 R

a. Determine the probability a student selected at random is Conservative (meaning either Very Conservative or Somewhat Conservative).

Probability = P1 = (M + N) / R = (22 + 87) / 450 = 0.2422

b. Determine the probability a Male student selected at random is Conservative (meaning either Very Conservative or Somewhat Conservative).

P2 = (A + B) / F = (20 + 62) / 273 = 0.3004

c. Determine the probability a Female student selected at random is Conservative (meaning either Very Conservative or Somewhat Conservative).

P3 = (G + H) / L = (2 + 25) / 177 = 0.1525

d. Given your answers to Parts a, b, and c, are the two dimensions, Political Attitude and Sex, statistically independent?

P1 is not equal to P2 x P3. Hence, the two dimensions Political Attitude and Sex, are not statistically independent.

e. Given your answer to Part d, are the Political Attitudes of Males and Females in the course generally Similar or Different?

Since the probabilities are different and Political Attitude and Sex, are not statistically independent; the Political Attitudes of Males and Females in the course is generally Different.


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