A market research study is being conducted to determine if a product modification will be well received by the public. A total of 1,000 consumers are questioned regarding this product
The table below provides information regarding this sample.
Positive
Reaction Neutral
Reaction Negative
Reaction
Male 240 60 100
Female 260 220 120
(a) What is the probability that a randomly selected male would find this change unfavorable (negative)?
(b) What is the probability that a randomly selected person would be a female who had a positive reaction?
(c) If it is known that a person had a negative reaction to the study, what is the probability that the person is male?
(a) 100/400 = 0.25 (b) 260/1000 = 0.260 (c) 100/220 = 0.4545
You might also like to view...
Modest Dress Company has a Book Value of $440,000,000. Its stock trades at a 200% premium over book. If its most recent ROE was 12.6%, what is its (P-e) "multiple?"
a) 3 b) 7.94 c) 15.87 d) 23.81
How are members of the National Labor Relations Board (NLRB) selected?
A) They are nominated and elected by employees in supervised union elections. B) They are nominated by employers and elected by employees in supervised union elections. C) They are appointed by the president with the advice and consent of the Senate. D) They are elected by Congress and either confirmed or vetoed by the president.