Given the Contingency Table Shown Here,what Is the Probability That

question 107

Multiple Choice

Given the contingency table shown here,what is the probability that a participant selected at random is a graduate student who opposes the change to a quarter system?

• A) .135
• B) .250
• C) .375
• D) .600

---

Definitions:

Public Good

A product or service that is non-excludable and non-rivalrous, meaning it can be used by anyone without diminishing its availability to others.

Allocative Efficiency

The apportionment of resources among firms and industries to obtain the production of the products most wanted by society (consumers); the output of each product at which its marginal cost and marginal benefit are equal, and at which the sum of consumer surplus and producer surplus is maximized.

Marginal Costs

The additional cost incurred by producing one more unit of a good or service, crucial for making production and pricing decisions.

Marginal Benefits

The incremental satisfaction or benefit a consumer derives from consuming an additional unit of a good or service.