PS 3 full - ECON 2843 Problem Set 3 1. Problem 4.37 in...

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ECON 2843 Problem Set 3 1. Problem 4.37 in Newbold on p. 114. A survey carried out for a supermarket classified customers according to whether their visits to the store are frequent or infrequent and to whether they often, sometimes, or never purchase generic products. The accompanying table gives the proportions of people surveyed in each of the six joint classifications. Frequency of visit Purchase of Generic Products Often Sometimes Never Frequent 0.12 0.48 0.19 Infrequent 0.07 0.06 0.08 a. What is the probability that a customer is both a frequent shopper and often purchases generic products? b. What is the probability that a customer who never buys generic products visits the store frequently? c. Are the events “Never buys generic products” and “Visits the store frequently” independent? d. What is the probability that a customer who infrequently visits the store often buys generic products? e. Are the events “Often buys generic products: and “Visits the store infrequently” independent? f.
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PS 3 full - ECON 2843 Problem Set 3 1. Problem 4.37 in...

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