What does the probability information tell you about sales

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Reference no: EM131455191

Question: The automobile industry sold 6571)00 vehicles in the United States during January 2009 (The Wall Street Journal. February 4. 2009). This volume was down 37% from January 2008 as economic conditions continued to decline. The Big Three U.S. automakers-General Motors. Ford. and Chrysler-sold 280.500 vehicles, down 48% from January 2008. A summary of sales by automobile manufacturer and type of vehicle sold is shown in the following table. Data are in thousands of vehicles. The non-U.S. manufacturers are led by Toyota. Honda. and Nissan. The category Light Truck includes pickup. minivan. SUV. and crossover models.

a. Develop a joint probability table for these data and use the table to answer the remaining questions.

b. What are the marginal probabilities? What do they tell you about the probabilities associated with the manufacturer and the type of vehicle sold?

c. If a vehicle was manufactured by one of the U.S auto makets, what is the probability that the vehicle was a car? What is the probability that it was a light truck?

d. If a vehicle was net manufactured by one of the U.S. automakers, what is the probability that the vehicle was a car? What is the probability that it was a light truck?

e. If the vehicle was a light truck, what is the probability that it was manufactured by one of the U.S. automakers?

f. What does the probability information tell you about sales?

Reference no: EM131455191

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