At Eastern University, 60% of the Students Are from Suburban

question 5

Multiple Choice

At Eastern University, 60% of the students are from suburban areas, 30% are from rural areas, and
10% are from urban areas.Of the students from the suburban areas, 60% are nonbusiness majors.Of
The students from the rural areas, 70% are nonbusiness majors.Of the students from the urban areas,
90% are nonbusiness majors.The probability that a randomly selected student is a business major is

• A) 0.66
• B) 0.54
• C) 0.44
• D) 0.34

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Definitions:

Exportation

The act of sending goods or services to another country for sale or trade.

Foreign Marketplace

An external market outside of one’s own country where goods, services, and financial instruments are traded.

Customs Union

An agreement between two or more countries to remove trade barriers and reduce tariffs among them, and to establish a common external tariff against other countries.

Common External Tariff

A uniform tariff rate adopted by a customs union or common market on imports from countries outside the union.