International relocation. A European department store is developing a new advertising campaign for their new U.S. location,

Question:

International relocation. A European department store is developing a new advertising campaign for their new U.S. location, and their marketing managers need to understand their target market better. A survey of adult shoppers found the probabilities that an adult would shop at their new U.S. store classified by age is shown below.

Shop Yes No Total Age *20 0.26 0.04 0.30 20–40 0.24 0.10 0.34 +40 0.12 0.24 0.36 Total 0.62 0.38 1.00

a) What’s the probability that a survey respondent will shop at the U.S. store?

b) What is the probability that a survey respondent will shop at the store given that they are younger than 20 years old?

c) What is the probability that a survey respondent who is older than 40 shops at the store?

d) What is the probability that a survey respondent is younger than 20 or will shop at the store?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Statistics

ISBN: 9781292269313

4th Global Edition

Authors: Norean Sharpe, Richard De Veaux, Paul Velleman

Question Posted: