The Results of a Survey of 800 Married Couples and the Number

question 23

Short Answer

The results of a survey of 800 married couples and the number of children they had is shown below. If a couple is selected at random, what is the probability that the couple will have
a.Less than 4 children?
b.More than 2 children?
c.Either 2 or 3 children?

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Definitions:

Efficient Markets

A concept that asserts that financial markets are "informationally efficient," meaning that prices of securities reflect all available information at any given time.

Opportunity Cost

The cost of choosing one alternative over another, typically representing the benefits you could have received by taking a different action.

Alternative Use

The potential other applications or purposes for which a resource, asset, or investment could be utilized instead of its current use.

Game

An interactive, often competitive activity involving skill, chance, or endurance on the part of two or more persons who play by a set of rules, usually for entertainment.