r 4 Assignment eBook To better understand how husbands and wives feel about thei

Question

r 4 Assignment eBook To better understand how husbands and wives feel about their finances, Money Morne conducted a national pol ono o manie dub a ow househeld incomes of $50,00 or more (Money Magazine websate, December 14, 2014). Consider the following example set of responses to t getting deals7 Who Is Better? My SpouseWe Are Eq Respondent IAm Husband278 Wife 127 102 102 s.o 290 Round your answers to four decimal places, if necessary a. Develop a joint probability table and use it to answer the following questions Respondent Husband Wife Total b. Construct the marginal probabilities for Who is Better (1 Am, My The probability of 'I Am The probability of "My Spouse I am Hy spouse We are equal Total 287110)10104080 362333562019 Spouse, We Are Equal). Comment. 5623 The probability of "We Are Equal" Uis over twice as likely adther-select your "mer c. Given that the respondent is a husband, what is the probablity that he feels he is better at getting deals than his wite? (to 4 decimals) d. Given that the respondent is a wife, what is the probability that she feels she is better at oetting deals than her husband? (to 4 decimals) e. Given a response "My spouse" is better at getting deals, what is the probability that the response came from a husband? (to 4 decimal) I. Given a response We are equal," what is the probablity that the response came from a husband (to 4 decimals, if necessary)? What is the probability that the response came from a wife (to 4 decimals, if necessary)? ” Y U N D A I

Explanation / Answer

b)

the probabilities of I am =0.5623

the probabilities of My spouse =0.2356

the probabilities of we are equal =0.2020

the probability of I am is over twice is likely as either probabilities of My spouse or probabilities of we are equal

c)

P(I am|Husbamd)=278/507=0.5483

d)

P(I am |wife)=0.5765

e)

P(husband|my spouse)=127/238=0.5336

f)

P(husband|we are equal)=102/204 =0.50

g)

P(wife)=503/1010=0.4980 (please try 0.50 if this comes wrong)

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