THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 104

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A survey of recent e-commerce start-up firms was undertaken at an industry convention.Representatives of the firm were asked for the geographic location of the firm as well as the firm's outlook for growth in the coming year.The results are provided below.
-What is the probability that one of these start-up firms was from the Northeast?

• A)0.04
• B)0.12
• C)0.49
• D)0.33

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Definitions:

Expected Value

The weighted average of all possible values a random variable can take on, with the weights being the probabilities of each outcome.

Loan Applications

Formal requests submitted by individuals or businesses to borrow money from financial institutions.

Continuous Random Variable

A variable that can take on an infinite number of values within a given range.

Curve f(x)

A graphical representation of a function f, defined by y = f(x), showing the relationship between two variables x and y.