SCENARIO 4-3 A Survey Is Taken Among Customers of a Fast-Food Restaurant

question 122

Short Answer

SCENARIO 4-3
A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken.Of 200 respondents selected,75 were children and 125 were adults.120 preferred hamburger and 80 preferred chicken.55 of the children preferred hamburger.
-Referring to Scenario 4-3,the probability that a randomly selected individual is an adult,or a child is_____ .

Grasp the basics of national income accounting in a closed economy.

Distinguish between public and private savings, and their contribution to national saving.

Understand the components and calculations involved in determining the quantity of loanable funds in a closed economy.

Analyze the effects of changes in interest rates on the supply and demand for loanable funds.

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