A retail clothing store has begun to issue credit cards in May. Of its card holders, 1000
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A retail clothing store has begun to issue credit cards in May. Of its card holders, 1000 have not paid the minimum payment in June. Company policy states that if an account has still not been paid after two months, card privileges will be revoked. The experience of similar stores indicates that \(60 \%\) of one-month delinquent accounts pay up, and \(75 \%\) of two-month delinquent accounts pay up. How many of the 1000 cards mentioned above can be expected to be revoked?
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Related Book For
Introduction To The Mathematics Of Operations Research With Mathematica
ISBN: 9781574446128
1st Edition
Authors: Kevin J Hastings
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