User Account

All Pages

What is the probability that parents provided financial

Assignment Help Basic Statistics
Reference no: EM13578487

According to the Ameriprise Financial Money Across Generations study, 9 out of 10 parents with adult children ages 20 to 35 have helped their adult children with some type of financial assistance ranging from college, a car, rent, utilities, credit-card debt, and/or down payments for houses (Money, January 2009). The following table with sample data consistent with the study shows the number of times parents have given their adult children financial assistance to buy a car and to pay rent. Pay Rent Yes No Buy a Car Yes 56 52 No 14 78

a. Develop a joint probability table and use it to answer the remaining questions.

b. Using the marginal probabilities for buy a car and pay rent, are parents more likely to assist their adult children with buying a car or paying rent? What is your interpretation of the marginal probabilities?

c. If parents provided financial assistance to buy a car, what it the probability that the parents assisted with paying rent?

d. If parents did not provide financial assistance to buy a car, what is the probability the parents assisted with paying rent?

e. Is financial assistance to buy a car independent of financial assistance to pay rent? Use probabilities to justify your answer.

f. What is the probability that parents provided financial assistance for their adult children by either helping buy a car or pay rent?

Reference no: EM13578487

Questions Cloud

Find the mean median mode range and midrange for these data : nine college students had eaten the following number of times at a fast food restaurant for dinner in the last ten
Record the inventory purchases and cost of merchandise sold : 1. record the inventory purchases and cost of merchandise sold data in a perpetual inventory record similar to the one
Blitzen corporation had net income of 200000 and paid : blitzen corporation had net income of 200000 and paid dividends to common stockholders of 50000 in 2014. the weighted
Compute the selling costs to be assigned to the : kragan clothing company manufactures its own designed and labeled sports attire and sells its products through catalog
What is the probability that parents provided financial : according to the ameriprise financial money across generations study 9 out of 10 parents with adult children ages 20
On december 30 2009 parker company ships 250000 of : on december 30 2009 parker company ships 250000 of merchandise by common carrier to jackson inc. the terms of the sale
Lay out the design for two between-subjects experiments a : lay out the design for two between-subjects experiments a an experiment involving an experimental group and a control
Erik rekdahl senior-in-charge is auditing koonce katfood : erik rekdahl senior-in-charge is auditing koonce katfood inc.s long-term debt for the year ended december 31. long-term
Auto lavage is a canadian company that owns and operates a : auto lavage is a canadian company that owns and operates a large automatic carwash facility near quebec. the following

Reviews

Write a Review

Basic Statistics Questions & Answers

  Dependent variables in regression analysis

Explain how we test independent against dependent variables in a regression analysis? What's the set up? How are regression analyses often misused / misinterpreted at work or in the news? Cite an example.

  Confidence interval for the population mean service charge

Construct a 95% confidence interval for the population mean service charge if a customer's account falls below the $1,500 minimum.

  Trainee positions in a fast-food management program

There are 20 qualified applicants for 5 trainee positions in a fast-food management program. How many different groups of trainees can be selected?

  The american college of cardiologists claims that the mean

the american college of cardiologists claims that the mean number of grams of fat in the popular m.i. burger sold at

  Confidence interval for automobiles traveling on interstate

From past information, it is known that the standard deviation of the population is 22 mph. The 96.6% confidence interval for m is?

  Information about algebra - real numbers

Place the following set of numbers in ascending order. Determine the maximum and minimum values of the following set of numbers. 36/7,-1,-2/3,-5,26/9

  Scores for group-participation adolescents

Does this sample provide enough evidence to conclude that self-esteem scores for group-participation adolescents are significantly different from those of the general population? Use a two-tailed test with α = .01.

  Part a dependent t testfor this assignment we are

part a. dependent t testfor this assignment we are interested in finding out whether participation in a creative

  How much to invest in the risk-free asset

You have another $9,000 to invest and want to divide it between an asset with a beta of 1.74 and a risk-free asset. How much should you invest in the risk-free asset?

  How analysis of statistics could benefit the community

Why crime statistics should be collected, how they are used, and how analysis of those statistics could benefit the community.

  What is the shape and distribution

How Many M&Ms of each color were eaten?

  Determining probability that fare will exceed a range

Based on this information, determinethe probability that specific fare will exceed $15.00?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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