Use the Following to Answer Questions

question 7

Short Answer

Use the following to answer questions :
A pollster asked 1000 adults whether Republicans or Democrats have better domestic economic policies. The following table gives the two-way classification of there opinions.

The pollster then randomly selected one adult from these 1,000 adults.
-The joint probability (rounded to three decimal places)of events "Male" and "No Opinion" is:

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Definitions:

Collective Decision-Making

The use of the political process (voting, taxes, government spending, regulation, political bargaining, lobbying, and so on) to make decisions and allocate resources. In a democratic setting, the votes of citizens and their representatives will determine the actions undertaken.

Basic Economic Questions

Fundamental questions that every economic system must address: What to produce, how to produce, and for whom to produce.

Private-Property Rights

Legal provisions that allow individuals to own, control, and benefit from property such as land, buildings, or intellectual property.

Competitive Economic Behavior

Actions exhibited by businesses or individuals in an attempt to achieve a market advantage, often through price, quality, and service.