respondents were asked about the expense of a college education and the relative

Question

respondents were asked about the expense of a college education and the relative necessity of financial assistance. The cor in college or not (college status), and whether they thought the loan obligation for most college students respondents were classified as to whether they currently had a child was too high, about right, or too little (loan obligation survey results. The percent of all adults surveyed who think loan obligations are too high is write your answer as a percent without the percent sign rounded to 1 decimal place.) opinion). The table below summarizes some of the % please Too High 347 257 bout Right 51 49 College Status oo Little hild in College 151 129 No Child in College Your Answer:?2??? T

Explanation / Answer

Ans:

P(too high)=(347+257)/984=0.614 or 61.4%

So,61.4% of the students think that loan obligations are too high.

college status Too high About right Too little Total child in college 347 51 151 549 No child in college 257 49 129 435 Total 604 100 280 984 Joint prob. Distribution college status Too high About right Too little Marginal prob. child in college 0.353 0.052 0.153 0.558 No child in college 0.261 0.050 0.131 0.442 Marginal prob. 0.614 0.102 0.285 1

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