390 Voters Are Classified by Income and Political Party A) 0241
B) 0

question 40

Multiple Choice

390 voters are classified by income and political party. The results are shown in the table. If a person isselected at random from the sample, find the probability that the person has medium income and votesDemocrat. $$\begin{array} { l c c c } \hline & \text { Democrat } & \text { Republican } & \text { Total } \\\hline \text { Low Income } & 102 & 77 & 179 \\\text { Medium Income } & 94 & 66 & 160 \\\text { High Income } & 23 & 14 & 37 \\\text { Super High Income } & 6 & 8 & 14 \\\text { Total } & 225 & 165 & 390 \\\hline\end{array}$$

• A) 0.241
• B) 0.418
• C) 0.588
• D) 0.746

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Definitions:

Preferred Shares

A class of ownership in a corporation that has a higher claim on assets and earnings than common shares, often receiving dividends before common shareholders.

Common Stock

A type of equity security that represents ownership in a corporation, entitling the holder to vote on corporate matters and receive dividends.

Dividend Growth Model

A valuation method that estimates the price of a company's stock based on the future dividends it is expected to pay, which are assumed to grow at a constant rate.