A retail outlet wanted to know whether its weekly advertisement in the daily newspaper works. To acquire

Question:

A retail outlet wanted to know whether its weekly advertisement in the daily newspaper works. To acquire this critical information, the store manager surveyed the people who entered the store and determined whether each individual saw the ad and whether a purchase was made. From the information developed, the manager produced the following table of joint probabilities. Are the ads effective?

Explain.

Purchase No Purchase See ad .18 .42 Do not see ad .12 .28

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

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Management And Economics

ISBN: 9781133420774

9th Edition

Authors: Gerald Keller, Kenneth C Louden

Question Posted: