Question

In: Math

To better understand how husbands and wives feel about their finances, a magazine conducted a national...

To better understand how husbands and wives feel about their finances, a magazine conducted a national poll of 1,006 married adults age 25 and older with household incomes of $50,000 or more. Consider the following example set of responses to the question "Who is better at getting deals?"

Who Is Better?
Respondent I Am My Spouse We Are Equal
Husband 280 125 100
Wife 292 109 100

(a)

Develop a joint probability table and use it to answer the following questions. (Round your answers to four decimal places.)

Response Totals
I am My Spouse We Are Equal
Spouse Husband
Wife
Totals

(b)

According to the marginal probabilities, what is the most likely response?

I ammy spouse    we are equal

(c)

Given that the respondent is a husband, what is the probability that he feels he is better at getting deals than his wife? (Round your answer to four decimal places.)

(d)

Given that the respondent is a wife, what is the probability that she feels she is better at getting deals than her husband? (Round your answer to four decimal places.)

(e)

Given a response "My spouse" is better at getting deals, what is the probability that the response came from a husband? (Round your answer to four decimal places.)

(f)

Given a response "We are equal," what is the probability that the response came from a husband?

What is the probability that the response came from a wife?

Solutions

Expert Solution

Solution: Here concept of calculation of probabilities from joint probability table is used.

milcah answered 1 month ago
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