Essay
The option to buy extended warranties is commonplace with most electronics
purchases. But does the type of purchase affect a consumer's willingness to pay extra for
an extended warranty? Data for 420 consumers who purchased big screen TVs and
laptop computers from a leading electronics retailer are summarized in the table. 
A. What is the probability that a consumer purchases an extended warranty?
b. What is the probability that a consumer purchases a big screen TV and an extended
warranty?
c. What is the probability that a consumer purchases an extended warranty given that
he/she has purchased a big screen TV?
Correct Answer:
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a. What is the probability that a consum...View Answer
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Correct Answer:
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