The Table Below Shows the Soft Drinks Preferences of People

question 204

Multiple Choice

The table below shows the soft drinks preferences of people in three age groups. $$\begin{array} { l c c c } & \text { Cola } & \text { Root beer } & \text { Lemon-lime } \\\text { Under 21 years of age } & 40 & 25 & 20 \\\text { Between 21 and 40 } & 35 & 20 & 30 \\\text { Over 40 years of age } & 20 & 30 & 35\end{array}$$ If one of the 255 subjects is randomly selected, find the probability (in fractional form) that the person is over 40 and drinks cola.

• A) \(\frac { 4 } { 17 }\)
• B) \(\frac { 4 } { 51 }\)
• C) \(\frac { 4 } { 19 }\)
• D) None are correct.

---

Definitions:

E-mail Correspondence

Exchanges of messages via electronic mail, commonly used for personal, professional, and legal communication.

Electronic Copies

Digital formats of documents or materials, which can be accessed via computers or other electronic devices.

Lerner Index

A measure of a firm's market power, calculated as the difference between price and marginal cost, divided by price.

Monopoly Power

The ability of a single supplier to control the market price and exclude competitors.