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Sixty percent of the student body at UTC is from the state of Tennessee (T), 30% percent are from other states (O), and the remainder is international students (I). Twenty percent of students from Tennessee live in the dormitories, whereas 50% of students from other states live in the dormitories. Finally, 80% of the international students live in the dormitories.
a.What percentage of UTC students live in the dormitories?
b.Given that a student lives in the dormitory, what is the probability that she/he is an international student?
c.Given that a student does not live in the dormitory, what is the probability that she/he is an international student?
Product Life Cycle
The stages a product goes through from development and introduction to growth, maturity, and decline in the market.
Price Sensitive
Describes consumers or markets that react strongly to changes in prices, where demand can significantly increase or decrease in response to price adjustments.
Introductory Stage
The initial phase in a product's lifecycle, where the focus is on marketing to build product awareness and develop a market for the product.
Growth Stage
The growth stage is a phase in the product life cycle characterized by rapid revenue and sales increases, along with more intense competition.
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