At Eastern University,60% of the Students Are from Suburban Areas,30

question 60

Multiple Choice

At Eastern University,60% of the students are from suburban areas,30% are from rural areas,and 10% are from urban areas.Of the students from the suburban areas,60% are nonbusiness majors.Of the students from the rural areas,70% are nonbusiness majors.Of the students from the urban areas,90% are nonbusiness majors.The probability that a randomly selected student is a business major is

• A)0.66
• B)0.54
• C)0.44
• D)0.34

---

Definitions:

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as part of retirement planning.

Loan Payments

Loan payments are periodic payments made by a borrower to a lender, consisting of both principal and interest, to repay a loan.

Present Value

A concept in finance that calculates the current worth of a future sum of money or stream of cash flows given a specified rate of return.

Expected Future Value

The anticipated value of an investment at a specific future date, taking into account potential growth or depreciation based on various factors such as market conditions and interest rates.