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Question - An environmental sub-committee conducted a survey about the opening of a childcare centre in a suburb of Melbourne. The following was the data collected on the response of the survey as per age.
Age
18-21
22-29
30-39
40-49
50-59
60 and over
Responded
83
265
255
146
148
212
Refused
21
30
43
26
37
59
Required -
(a) What is the probability that the selected person refused to answer?
(b) What is the probability that the selected subject is someone 60 and over who responded?
(c) What is the probability that the selected person responded given that the person is in the 18-21 age bracket?
(d) What is the probability that the selected person refused to respond or is over 60 years of age?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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