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1)  In a recent survey of college freshman, 35% of students checked the box next to “exercise regularly”, 33% checked the box next to “eat five or more servings of fruits and vegetables a day”, and 57% checked the box “neither.”  Use the appropriate probability notation in your answers to each question.

First, put student responses in the appropriate boxes of our two-way relative frequency table:

Exercise (E)

Totals

Eats fruit and veggies (Fv)

Totals

100%

Use the appropriate probability notation in your answers to each question.

a) What is the joint probability of randomly selecting a surveyed freshman who exercises and eats 5 servings of fruits and vegetables each day?

b)  What is the probability of selecting a freshman who exercises regularly or eats 5 servings of fruits and vegetables each day?

c)  What is the probability of a student not eating fruits or vegetables?

d)  What is the probability of a freshman not exercising regularly and not eating 5 servings of fruits and vegetables each day?

You are the owner and manager of a small auto repair shop that does routine maintenance, major repairs, and body work. Business is good, and your monthly financial statements show that your shop is consistently profitable. Cash flow is becoming a small problem, however, and you may need to take out a loan from the bank. You have also been receiving customer complaints about time delays and price increases.

Required:

1. a) What accounting information do you think is most important to take with you to discuss a possible loan with your banker?
2. b) What accounting information do you think is most important in ascertaining the business activities of your repair shop in regard to addressing time delays and price increases? What about non-accounting information?

1. c) Can the various information in parts (a) and (b) be gathered from the accounting records directly? Indirectly? If not at all, where would you need to look for such

information?

Mercantilism, sailors and pirates:

What led sailors to enlist as pirates or go "on the account"? Try to be as expansive as you can.