A Automobile Marketing Firm Conducts a Study to See What

question 19

Multiple Choice

A automobile marketing firm conducts a study to see what types of cars people owned before Buying an American car.The results are shown below. $$\begin{array} { | c | c | } \hline \text { Previous Ownership } & \text { Frequency } \\\hline \text { American } & 760 \\\hline \text { Japanese } & 375 \\\hline \text { Korean } & 72 \\\hline \text { German } & 37 \\\hline \text { Other } & 24 \\\hline \text { Total } & \mathbf { 1 2 6 8 } \\\hline\end{array}$$
The relative frequency of those who owned Japanese cars previously who now bought
American cars is

• A)59.9 %
• B)29.6%
• C)5.7%
• D)14.9%
• E)2.9%

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Definitions:

Minimum Payoff

The least amount of return or profit one can expect from an investment or decision.

Payoff Rate

The rate of return or profit that is expected or realized from an investment, operation, or decision.

ARM

A type of processor architecture known for its power efficiency, commonly used in mobile devices.

Net Present Value

A financial metric that calculates the difference between the present value of cash inflows and the present value of cash outflows over a period of time.