(Solution) - To better understand how husbands and wives feel about their -(2025 Original AI-Free Solution)

Paper Details

To better understand how husbands and wives feel about their finances, Money Magazine conducted a national poll of 1010 married adults age 25 and older with household incomes of $50,000 or more (Money Magazine website, December 14, 2014). Consider the following example set of responses to the question, "Who is better at getting deals?"

a. Develop a joint probability table and use it to answer the following questions.
b. Construct the marginal probabilities for Who Is better (I Am, My Spouse, We Are Equal). Comment.
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?