Through a Telephone Survey,a Low-Interest Bank Credit Card Is Offered

question 46

Essay

Through a telephone survey,a low-interest bank credit card is offered to 400 households.The responses are as tabled.

a.Develop a joint probability table and show the marginal probabilities..
b.What is the probability of a household whose income exceeds $40,000 and who rejects the offer?
c.If income is < $40,000,what is the probability the offer will be accepted?
d.If the offer is accepted,what is the probability that income exceeds $40,000?

Recognize the importance and the process of problem recognition in consumer decision making.

Understand the significance of information search and how it varies among consumers.

Learn about the stages involved in the purchasing process of a product.

Grasp the concept and implications of evoked and inept sets in consumer choices.

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Definitions:

Cognitive Therapist

A mental health professional specialized in cognitive therapy, focusing on identifying and modifying dysfunctional thought patterns.

Chronically Anxious Client

A person who consistently experiences intense levels of anxiety over an extended period, affecting their daily functioning.

Irrational Thoughts

Thoughts that are not based on reason or logic, often leading to negative emotions and behaviors.

Valium

A medication primarily used to treat anxiety, muscle spasms, and seizures by having a calming effect on the brain and nerves.