Use the Following Table to Answer the Question

question 39

Multiple Choice

Use the following table to answer the question. A random sample of college students was asked to respond to a survey about how they spend their free time on weekends. One question, summarized in the table below, asked each respondent to choose the one activity that they are most likely to participate in on a Saturday morning. The activity choices were homework, housework, outside employment, recreation, or other.

-If one student is randomly chosen from the group, what is the probability that the student chose "outside employment" as their most likely activity on a Saturday morning?

• A)0.43
• B)0.13
• C)0.23
• D)None of these

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Definitions:

Derived Demand

A demand for a product or service that arises from the demand for another product or service.

Multivariable Account Segmentation

A marketing approach that divides a market into subgroups based on multiple factors such as customer needs, demographics, and behavioral traits, allowing for targeted marketing strategies.

Dual Segmentation Marketing

A marketing strategy that involves dividing the market into two parts based on differing criteria to better target specific groups of consumers.

Sales Volume

The total number of units of a product or service sold over a specific period of time. It is a measure of a company's sales performance and market demand.