The Finance Society at a college wants to find out if there isa relationship bet

Question

The Finance Society at a college wants to find out if there isa relationship between a students interest in finanace and abilityin mathematics. A random sample of 200 students is selected,and they are asked if interest in finaance and ability in math ishig, avg, or low. The results were as follows                                                                     Ability in Math Interest inFinance            Low               Avg                High          Total        Low 60 15 15 90 Avg 15 45 10 70 High 5 10 25 40 Total 80 70 50 200 If student selected at random, what is probability s/he: a) Has an average interest in finance? Myanswer is .35. Is this correct? b) Has an abiity in math and a high interest infinance? My answer is .25? c) Has a high interest in finance or a highability in math? My answer is .325? d) Has a low interest in finance or an averageinterest in finace? I don't know how to do this one- can youhelp? e) Assume we know the person selected has a highability in math. What is probability person has a lowinterest in finance? My answer is .1667? f) Are high ability in math and high interest infinance independant events? My answer is no. Can somonehelp justify this answer? Thank you! The Finance Society at a college wants to find out if there isa relationship between a students interest in finanace and abilityin mathematics. A random sample of 200 students is selected,and they are asked if interest in finaance and ability in math ishig, avg, or low. The results were as follows                                                                     Ability in Math Interest inFinance            Low               Avg                High          Total        Low 60 15 15 90 Avg 15 45 10 70 High 5 10 25 40 Total 80 70 50 200 If student selected at random, what is probability s/he: a) Has an average interest in finance? Myanswer is .35. Is this correct? b) Has an abiity in math and a high interest infinance? My answer is .25? c) Has a high interest in finance or a highability in math? My answer is .325? d) Has a low interest in finance or an averageinterest in finace? I don't know how to do this one- can youhelp? e) Assume we know the person selected has a highability in math. What is probability person has a lowinterest in finance? My answer is .1667? f) Are high ability in math and high interest infinance independant events? My answer is no. Can somonehelp justify this answer? Thank you! Low 60 15 15 90 Avg 15 45 10 70 High 5 10 25 40 Total 80 70 50 200

Explanation / Answer

If student selected at random, probability s/he: a) Has an average interest in finance = 70 / 200= 0.35. yes your answer is correct b) Has an abiity in math and a high interest infinance = 40 / 200 =0.2 (since the ability of maths n whichlevel is not defined) . hence your answer is wrong. c) Has a high interest in finance or a highability in math= (40+50 -25) /200 = 0.325. you are correct d) Has a low interest in finance or an averageinterest in finace= (90 +70) / 200 = 0.8 (since there is nocommon lement between the two events) e) Assume we know the person selected has a highability in math. probability person has a low interest infinance =(15 / 200) / (50 / 200) = 0.075 / 0.25 = 0.3 .f) high ability in math and high interest in financeare not independant events as they have sample points in common i.ethey intersect.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.