Consider the Following to Answer the Question(s) Below

question 31

Multiple Choice

Consider the following to answer the question(s) below:
A recent survey of local cell phone retailers showed that of all cell phones sold last month, 64% had a camera, 28% had a music player, and 22% had both.
-The probability that a cell phone sold last month had a camera or a music player is

• A) 0.22
• B) 0.70
• C) 0.92
• D) 0.30
• E) 0.08

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in a market.

No-Par

Refers to stock issued without a par value, meaning it has not been assigned a nominal face value.

Market Value

The ongoing rate at which one can buy or sell an asset or service.

Weighted-Average

A method of calculating an average that takes into account the importance, or weight, of each value.