People twn thvlae rlticular year, a listing of several income levels and, for ea

Question

People twn thvlae rlticular year, a listing of several income levels and, for each level, the proporti indicated income category. Round your that one sa in the USE BAYES THEOREM to solve the The table shows, for some s problem l and the ndicated in the probability that a person in that level bought a new car during the year. Given answer to the nearest hundredth category, Rotat year is randomly selected, find the probability that that person ast -Proportion|Probability that of population bought a new car income level 55,000 9,999 10,000-14,999 15,000 -19,999 $20,000 -24,999 525,000-29,999 $30,000 _ 34,999 $35,000-39999) 1 5.4% 8.7% 9.4% 0.10 0.11 13.8% 10.7% 15.5% 540,000-49,999 0.15 0.19 S50.000 and over 14.7% 20) 530,000- 539,999

Explanation / Answer

20)

This can be answered by taking out the total no. of income level of $30000 to $39999 people bought the car divided by the total no. of people who bought the car =

(.138*.11+.107*.13)/(.052*.02+.064*.03+.054*.06+.087*.07+.094*.09+.102*.10+.138*.11+.107*.13+.155*.15+.147*.19) = 0.262

= .262

So, the answer is 26.2%

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