Marital Status an Insurance Company Has Collected the Following Data on the on the Gender

question 53

Short Answer

Marital Status
An insurance company has collected the following data on the gender and marital status of 570 customers.

suppose that a customer is selected at random.
-{Marital Status Narrative} Find the probability that the customer selected is female or divorced.

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Definitions:

Elasticity of Market Supply

The degree to which the quantity supplied of a good changes in response to a change in price.

Output Expansion

The increase in the production of goods and services in an economy or by a firm, often as a result of increased demand or improved production capabilities.

Period Lengthened

The extension of time allocated for a particular activity, phase, or process.

Price-taker Market

A market in which individual sellers cannot influence the market price and must accept the prevailing market price for their goods or services.