Quiz2 fa07 KEY - ECON 2843 Quiz 2 Fall 2007 Name Section...

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Name KEY Quiz 2 Section Time Fall 2007 ID # Students must show all work on problems that involve calculation. Questions 1 - 3 refer to the following table. The table shows the results of a national survey of 200 executives who were asked to identify the geographic locale of their company and their company’s industry type. The executives were only allowed to select one locale and one industry type. Geographic Location Northeast Southeast Midwest West Total Industry Type Finance 24 10 8 56 Manufacturing 30 6 12 Communications 28 18 12 16 Total 34 1. What is the probability that a randomly selected executive will work in the finance industry and work in the West? a. .07 * b. .14 c. .21 d. .25 e. .33 2. If a manufacturing executive is randomly selected, what is the probability that he/she will work in the Midwest? a. 11% b. 22% c. 31.43% * d. 52.38% e. 70% 3. A government agency has been given a grant to form a consortium (i.e. a working group) on a proposed policy. How many ways are there to select a consortium from the above that contains three executives? 1,313,400
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Quiz2 fa07 KEY - ECON 2843 Quiz 2 Fall 2007 Name Section...

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