You Are Attending a Baseball Game with Two Family Members

question 54

Short Answer

You are attending a baseball game with two family members when it is announced that four fans in your section (which holds 20 spectators total) will win a free autographed baseball.
A) What is the probability that at least one member of your family (including yourself) wins an autographed baseball?
B) What is the probability that two members of your family win an autographed baseball?
C) What is the probability that all three of you win an autographed baseball?

• A) What is the probability that at least one member of your family (including yourself) wins an autographed baseball?
• B) What is the probability that two members of your family win an autographed baseball?
• C) What is the probability that all three of you win an autographed baseball?

---

Definitions:

Consumption Function

An economic formula that depicts the relationship between total consumption and gross national income, indicating how income affects spending.

Future Expectations

Anticipations or predictions about the economy or financial markets based on current events or trends that can influence consumer and investor behaviors.

Market Interest Rate

The prevailing rate at which borrowers can obtain loans and savers can earn on their investments in the open market.

Investment Decision

The process of evaluating the potential profitability or worth of an investment or project.