Question

In: Statistics and Probability

1- In a large shopping mall, a marketing agency conducted a survey on credit cards. 100...

1- In a large shopping mall, a marketing agency conducted a survey on credit cards. 100 people

were surveyed. The results are shown in the table.

Employment status	Owns a credit card	Does not own a credit card	Total
Employed	18	26	44
Unemployed	25	31	56
Total	43	57	100

If a person is selected at random, find the following.

a) The probability a person owns a credit card and the person is employed.

b) The probability a person is unemployed or owns a credit card.

c) The odds in favor of a person being unemployed.

d) The odds against a person owning a credit card.

e) The probability a person is unemployed given they own a credit card.

Solutions

Expert Solution

Let, E denotes that a person selected at random, is employed.

Therefore, Ec denotes a person selected at random, is unemployed.

Let, C denotes that a person selected at random owns a credit card.

Therefore, Cc denotes that a person selected at random does not own a credit card.

a) The probability a person owns a credit card and the person is employed, is

b) The probability a person is unemployed or owns a credit card, is

= 0.99 - 0.43 * 0.5814

= 0.74

c) The odds in favor of a person being unemployed, is

d) The odds against a person owning a credit card, is

e) The probability a person is unemployed given they own a credit card, is

orchestra answered 11 months ago

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