{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Quiz2 Sp 06 KEY

# Quiz2 Sp 06 KEY - ECON 2843 Quiz 2 Spring 2006 Name ID KEY...

This preview shows pages 1–2. Sign up to view the full content.

ECON 2843 Name KEY Quiz 2 Spring 2006 ID # Students must show all work on problems that involve calculation. Questions 1 - 2 refer to the following table. In February 2002, the Argentine peso lost 70% of its value compared to the U.S. dollar. This devaluation drastically raised the price of imported products. According to an AC Nielsen survey, some Argentinean consumers changed to less expensive brands, and some of them changed the number of products that they purchased. The results are given in the table. Brands Purchased same changed Total Number of Products Purchased Fewer .025 Same .035 .205 More .06 .02 Total .88 1. What is the probability that a randomly selected consumer will not purchase more products than before the devaluation? a. .025 b. .08 c. .68 d. .92 * e. .98 2. If a randomly selected worker was found to have purchased fewer products than before, then what is the probability that he/she will change brands? 3. A statistics instructor named Mat wants to take his fiancé to 2 (different) movies for a Valentine’s Day extravaganza.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 3

Quiz2 Sp 06 KEY - ECON 2843 Quiz 2 Spring 2006 Name ID KEY...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online