Use the Following Table to Answer Questions

question 17

Multiple Choice

Use the following table to answer questions . A random sample of car buyers was asked to respond to asurvey about what was the most important quality of the car they purchased. This question is summarized in the table below. The important contributors were fuel efficiency, looks, manufacturer reputation, price or other.
-If one car buyer is randomly chosen from the group, what is the probability that the buyer is female and chose "fuel efficiency" or "other" as their most important factor for the purchase?

• A)0.212
• B)0.110
• C)0.300
• D)0.173

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Definitions:

Elasticity Coefficient

Refers to a numerical measurement of how responsive an economic variable is to a change in another variable.

Supply Elastic

Relates to how much the quantity supplied of a good changes in response to changes in its price.

Recession

An economic downturn marked by a significant decline in activity across the economy, lasting more than a few months.

Demand Decline

A situation where the desire or willingness of consumers to purchase a particular good or service decreases over time.