Use the Following to Answer Questions

question 25

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 "Republicans" and "Democrats" is:

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Definitions:

Interest Rate

The borrowing cost that a lender imposes on a borrower, designated as a percentage of the principal for the use of property or money.

Years

A unit of time equal to 365 days (366 in a leap year), commonly used as a basic measure for accounting periods, product warranties, and investment horizons.

Discount Rate

In the context of discounted cash flow analysis, it's the rate used to determine the present market value of anticipated cash flows.

Payments

The transfer of money, or its equivalent, from one party to another as a fulfillment of an obligation or for the purchase of goods or services.