Exercise 04.35 (Conditional Probability)

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To better understand how husbands and wives feel about their finances, Money Magazine conducted a national poll of married adults age and older with household incomes of or more (Moneywebsite). Consider the following example set of responses to the question, "Who is better at getting deals?"

	Who Is Better?
Respondent	I Am	My Spouse	We Are Equal
Husband	278	127	102
Wife	290	111	102

Round your answers to four decimal places, if necessary.

a. Develop a joint probability table and use it to answer the following questions.

Respondent	I am	My spouse	We are equal	Total
Husband
Wife
Total

b. Construct the marginal probabilities for Who Is Better (I Am, My Spouse, We Are Equal). Comment.

The probability of "I Am"
The probability of "My Spouse"
The probability of "We Are Equal"

- Select your answer -I amMy spouseWe are equalItem 16 is over twice as likely as either - Select your answer -I am or My spouseMy spouse or We are equalI am or We are equalItem 17 .

c. Given that the respondent is a husband, what is the probability that he feels he is better at getting deals than his wife?

d. Given that the respondent is a wife, what is the probability that she feels she is better at getting deals than her husband?

e. Given a response "My spouse" is better at getting deals, what is the probability that the response came from a husband?

f. Given a response "We are equal," what is the probability that the response came from a husband?

What is the probability that the response came from a wife?