What is the probability that a person wants a better

Assignment Help Business Economics
Reference no: EM132199146

A manufacturer of automobiles conducted a market survey. Sixty percent of the customers want better fuel efficiency, while 45 percent want a vehicle navigation system and 25 percent want both features.

What is the probability that a person wants a better fuel efficiency given that he wants a vehicle navigation system?

Reference no: EM132199146

Questions Cloud

Confidence interval around sample mean : A sample of 30 orders averaged $81.25. What is the 90% confidence interval around this sample mean?
Confidence interval for the population proportion : Which of the following intervals represents a 96 percent confidence interval for the population proportion?
How would you summarize question of social responsibility : How would you summarize the question of social responsibility surrounding Mylan's choice of price? What would Friedman say that Mylan should charge.
Define the term budget deficit identified in bold : Define the term budget deficit identified in bold in the text
What is the probability that a person wants a better : What is the probability that a person wants a better fuel efficiency given that he wants a vehicle navigation system?
Which workers will be hired and how much will they make : There is a 50% chance that an employee is skilled. Which workers will be hired and how much will they make?
Describe the four factors of production : Describe the four factors of production. How have the owners of Finagle A Bagel used to build the business over time? Do some research on finagle A Bagel.
First quartile of the number of citation issued per day : What is the first quartile of the number of citation issued per day?
What is the new equilibrium price and quantity : What is the new equilibrium price and quantity and how big is the deadweight loss?

Reviews

Write a Review

Business Economics Questions & Answers

  The owners would be faced with what challenges

In a 100% socialist structure, the owners would be faced with what challenges? hey lose the opportunity to make and hold onto extreme profits. They assume all the financial risk if their businesses fail. They no longer can change careers because they..

  Which best describes credit default

Which best describes a credit default swap? A) It is designed to reduce interest-rate risk. B) The issuer receives payments from the buyer in return for agreeing to make payments to the buyer if the underlying security goes into default. C) Issuers a..

  Fed intervention for an inflationary gap

According to Phillip’s curve theory, what happens in the long run if there is no government or fed intervention for an inflationary gap? How do expectations of inflation change and how is this illustrated using the Phillip’s curve graph?

  Consider annual interest rates

A college student has been looking for tires and has found the following: Tire Warranty for Tire A is 6 months at a price per tire of $31.59. What is MONTHLY worth/cost of Tire A if we consider annual interest rates are at 10%?

  Produced in a perfectly competitive industry

Consider the following goods and services. Which are the most likely to be produced in a perfectly competitive industry? Which are not? Explain why you made the choices you did, relating your answer to the assumptions of the model of perfect competit..

  Q1 corporate profitability declined by 20 from 2008 to 2009

q1. corporate profitability declined by 20 from 2008 to 2009. what performance would you use to trigger executive

  The market value of the forklift decreases

A forklift can be purchased for $30,000. The market value of the forklift decreases by 20% of the previous year’s value for 2 years, and then by 15% in years 3 through 10. Maintenance is $400 in years 1 and 2, and then jumps to $750 in year 3. After ..

  The globalization of multinational corporations impacts

The globalization of multinational corporations impacts the product and service choices available to customers. As such, several classifications and rankings of multinational corporations are prepared by a variety of sources. Find the Global 2000 ran..

  When the farmer makes this discovery

When the farmer makes this discovery, what happens to the opportunity cost of wheat, measured in bushels of corn?

  Concept of diminishing marginal utility

First consider how marginal benefits and marginal costs fit in to Luke's decision, and how the concept of diminishing marginal utility is at work as Luke eats m

  Why would elasticity of demand be important to you

Why would elasticity of demand be important to you in determining the products on which the taxes should be levied".

  Aggregate supply-aggregate demand and gdp price index

A nation in recession reduces the both the personal and business marginal tax rates. What is the likely short-term effect on government deficit (or surplus), aggregate supply, aggregate demand, and GDP price index?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd