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At a major credit card bank, the percentages of people who historically apply for the Silver, Gold and Platinum cards are 55%, 40% and 5%,
At a major credit card bank, the percentages of people who historically apply for the Silver, Gold and Platinum cards are 55%, 40% and 5%, respectively. In a recent study of customers responding to a promotion, of 200 customers, 127 applied for Silver, 48 for Gold and 25 for Platinum. The observed and expected data are summarised in the table below:
Use the output and your calculator to answer questions 1-3.
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