Use the Following Table to Answer the Question

question 36

Multiple Choice

Use the following table to answer the question. A random sample of college students was asked to respond to a survey about how they spend their free time on weekends. One question, summarized in the table below, asked each respondent to choose the one activity that they are most likely to participate in on a Saturday morning. The activity choices were homework, housework, outside employment, recreation, or other.

-If one student is randomly chosen from the group, what is the probability that the student chose "recreation" as their most likely activity on a Saturday morning?

• A)0.310
• B)0.115
• C)0.195
• D)None of these

Understand the impact of interest rate changes on individual savings and consumption across different periods.

Analyze how changes in income affect individual consumption decisions in the context of utility functions.

Interpret the implications of utility functions on spending decisions.

Evaluate the present value of endowments based on consumption and earnings across different periods under various interest rates.

---

Definitions:

Calendar And Time Management Systems

Tools and techniques used to organize, schedule, and manage time effectively, including both digital and physical calendars.

Microsoft Outlook

A personal information manager software system from Microsoft, primarily used as an email application, it also includes calendar, task manager, contact manager, note taking, and journal.

Purchase Frequency

Purchase frequency is a measure of how often customers buy a product or service over a specific period of time, indicating loyalty and satisfaction.

Formal Route Plans

Structured and planned courses of action, often used in logistics and distribution, to optimize efficiency and performance.