SCENARIO 4-14 Suppose That Patrons of a Restaurant Were Asked Whether They

question 78

Short Answer

SCENARIO 4-14
Suppose that patrons of a restaurant were asked whether they preferred water or whether they
preferred soda. 70% said that they preferred water. 60% of the patrons were male. 80% of the males
preferred water.
-Referring to Scenario 4-14, suppose a randomly selected patron is a female. Then the probability
the patron prefers water is __________.

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Definitions:

Short-Term

Relating to or occurring over a brief period of time, typically less than one year.

Issued Shares

Shares of a company's stock that have been allocated and are currently owned by shareholders.

Preference Shares

A type of stock that provides shareholders with prioritized dividend payments and, in some cases, preferential treatment in asset distribution upon the company's liquidation.

Outstanding Shares

The total number of shares of stock that are currently owned by shareholders, including shares held by institutional investors and restricted shares owned by company insiders.