An Insurance Company Has Collected the Following Data on the Gender

question 3

Multiple Choice

An insurance company has collected the following data on the gender and marital status of 400
Customers.
Suppose that a customer is selected at random. Find the probability that the customer selected is
Married if the customer is female.

• A) 125/240
• B) 50/160
• C) 110/160
• D) 50/400

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Definitions:

Contextual Variables

Factors that influence the performance and behavior of individuals or organizations, but exist outside of their direct control.

Firm's Competitive Advantage

The unique attributes or capabilities that enable a business to outperform its competitors and achieve superior margins.

Organizational Goals

The objectives or targets that an organization aims to achieve, which guide its strategic planning and operations.

Strategic Framework

An overarching plan or structure that outlines an organization's strategy, including its goals, principles, and approaches to achieving its objectives.