The Following Distribution Table Represents Preferences for Two Types of Cereals

question 69

Multiple Choice

The following distribution table represents preferences for two types of cereals by 2000 boys and girls. Find the probability that an individual selected at random will be a boy and prefer Fruity cereal.

• A) 500/1,000
• B) 500/2,000
• C) 1,200/2,000
• D) 500/1,200

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Definitions:

Utility Function

Refers to the model used by economists to estimate the level of utility or satisfaction a consumer derives from the consumption of goods and services, highlighting consumer preferences.

Budget Constraint

A representation of all the combinations of goods and services a consumer can purchase with their income at given prices.

Income

The financial earnings received by an individual or a business in exchange for their labor, services, or investments, typically measured over a certain period.

Apples

A type of fruit that is grown worldwide and comes in various colors and flavors, often eaten raw or used in dishes.