Make Excel do all of the necessary calculations Report answers on the worksheet Label answers as...

Make Excel do all of the necessary calculations
Report answers on the worksheet
Label answers as the questions are labelled: a, b, c,…
Use the probability notation p(A), p(Aand B),… etc
Submit your spreadsheet in Blackboard Assignment.

2. Due to recent global economic trends, Brazilian currency has lost value compared to the US dollar. This devaluation caused an increase in the price of products in Brazil. The following table summarizes results from a consumer survey that asked about the number of products being purchased and whether the brands purchased had changed (a trend towards purchasing less expensive brands was expected)

	Number of Products Purchased
Brands purchased	Fewer	Same	More	Total
Changed to less expensive	262	82	8	352
Did not change	10	14	24	48

Total	272	96	32	400

What is the probability that a consumer selected at random:

a. purchased fewer products than before?

b. purchased fewer products and changed brands?

c. purchased fewer products or did not change brands?

d. Constance Aguero changed the brands she purchased. What is the probability that she purchased fewer number of products?

e. Robert Nanaim is purchasing fewer products. What is the probability that he has changed brands?

f. Are the events Brands purchased and Number of products purchased independent events? Show the test.

Solutions

Expert Solution

genius_generous answered 1 year ago

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