Online marketplaces such as Craigslist have become a popular way for individuals to buy and sell miscellaneous
Question:
a. Using the relative frequency approach to probability assessment, what is the probability that a product will be on the website more than 7 days?
b. Is the event 1-7 days on the website independent of the price $200 $500?
c. Suppose an item has just sold and was on the website less than 8 days, what is the most likely price range for that item?
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a The probability of interest is found using the addition rule for mutually exclusive events P 7 day...View the full answer
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Related Book For 
Business Statistics A Decision Making Approach
ISBN: 9780134496498
10th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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