The Employees of a Company Were Surveyed on Questions Regarding

question 120

Multiple Choice

The employees of a company were surveyed on questions regarding their educational background (college degree or no college degree) and marital status (single or married) .Of the 600 employees,400 had college degrees,100 were single,and 60 were single college graduates.The probability that an employee of the company does not have a college degree is:

• A)0.10
• B)0.33
• C)0.67
• D)0.75

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Definitions:

Marginal Cost

The rise in aggregate expenditure resulting from the production of one more unit of a good or service.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded.

Senior Discount

A reduction in the price of goods, services, or commodities offered to elderly individuals, typically those who are 65 or older.

Indirect Price Discrimination

A pricing strategy where the price variance does not directly relate to cost differences but is based on different consumer groups' ability or willingness to pay.