FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Suppose you want to estimate the probability that a randomly selected customer at a particular grocery sore will pay by credit card. Over the

2. Suppose you want to estimate the probability that a randomly selected customer at a particular grocery sore will pay by credit card. Over the past 3 months, 70,600 purchases were made, and 22,200 of them were paid for by credit card. What is the probability that a randomly selected customer will pay by credit card?

a. 0.3144

b. 0.5391

c. 0.7233

d. 0.8548

e. 0. 8633

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Holt Mcdougal Larson Algebra 2

Holt Mcdougal Larson Algebra 2

Authors: HOLT MCDOUGAL

1st Edition 2012

9780547647159, 0547647158

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Ann sued a grocery store for injuries. She had slipped on some accumulated rainwater as she stepped on a rubber mat just inside the door to the store. Prior to the fall, the bag boy had placed a wet...

Answered: 1 week ago

Question

★★★★★
Given the following functions, find and simplify ( ? ) (3). f (ac) = 202 g(ac) = - 2 + 4 Do not include () (3) = "in your

Answered: 1 week ago

Question

★★★★★
A university researcher is using mail surveys to study the type of business-to-business marketing techniques employed by firms within a variety of industries. What types of systematic error are to be...

Answered: 1 week ago

Question

★★★★★
Ames Trading Co. has the following products in its ending inventory . Compute lower of cost or market for inventory applied separately to eachproduct. Product Quantity Mountain bikes Skateboards...

Answered: 1 week ago

Question

★★★★★
Suppose that X is a Poisson random variable. We know that P(X = 1) = P(X = 2). (a) Whats the mean of X? (b) Whats the expectation of X^2?

Answered: 1 week ago

Question

★★★★★
Assume that Cola Co. has a share price of $42.39. The firm will pay a dividend of $1.38 in one year, and you expect Cola Co. to raise this dividend by approximately 6.5% per year in perpetuity. a. If...

Answered: 1 week ago

Question

★★★★★
4. For a marketable debt securities portfolio classified as held-to-maturity, which of the following amounts should be included in the period's net income, assuming the company elects the fair value...

Answered: 1 week ago

Question

★★★★★
In this assignment, students will interview the representative of the nonprofit organization selected for the Community Teaching Project in Topic 1. During the interview, students will review their...

Answered: 1 week ago

Question

★★★★★
Bramble Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2025, the following accounts were included in stockholders' equity. Preferred...

Answered: 1 week ago

Question

★★★★★
PSY-520 Graduate Statistics Topic 3 - Benchmark - Correlation and Regression Project Directions: Use the following information to complete the questions below. Use the following data points that have...

Answered: 1 week ago

Question

★★★★★
Wonder land Ltd. operates a housing development project.There was a fire on its premises on 31 January 2019 which destroyed most of the building, although stock to the value of Sh.3,960,000 was...

Answered: 1 week ago

Previous Question Next Question