In a Certain Town, 40% of Adults Have a College

question 75

Short Answer

In a certain town, 40% of adults have a college degree. The accompanying table describes the probability
distribution for the number of adults (among 4 randomly selected adults) who have a college degree. $$\begin{array} { | c | r | } \hline \mathrm { x } & \mathrm { P } ( \mathrm { x } ) \\\hline 0 & 0.1296 \\1 & 0.3456 \\2 & 0.3456 \\3 & 0.1536 \\4 & 0.0256 \\\hline\end{array}$$

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Definitions:

Perceived Value

The value a customer believes a product or service will provide, often influencing their purchasing decisions.

Sex Appeal

The attractiveness or appeal of a person, object, or message, often used in marketing to attract and engage consumers.

Social Norms

Unwritten rules that govern behavior in society, guiding what is considered acceptable or unacceptable in social contexts.

Supply Chain

A system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.