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

question 161

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,assume we know that a person prefers hamburger.The probability that this individual is a child is_____ .

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Definitions:

Currency Component

The part of the money supply consisting solely of currency in circulation - notes and coins.

Federal Reserve Notes

Paper currency issued by the Federal Reserve, the central bank of the United States, used as legal tender.

Checkable Deposits

Bank accounts that allow the owner to write checks to third parties. Checks can be used for payments while the account earns interest.

Readily Used

implies resources or items that are easily accessible and can be immediately employed for a specific purpose or need.