Question: Recent uncertain economic conditions have forced many people to change
Recent uncertain economic conditions have forced many people to change their spending habits. In a recent telephone poll of 1000 adults, 629 stated that they were cutting back on their daily spending. Suppose that 322 of the 629 people who stated that they were cutting back on their daily spending said that they were cutting back “somewhat” and 97 stated that they were cutting back “somewhat” and “delaying the purchase of a new car by at least 6 months”. If one of the629 people who are cutting back on their spending is selected at random, what is the probability that he/she is delaying the purchase of a new car by at least 6 months given that he/she is cutting back on spending “somewhat?”
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