Buy On Line is a large internet-based online retailer that maintains four different teams of sales representatives.
Question:
Buy On Line is a large internet-based online retailer that maintains four different teams of sales representatives. The ages of unpaid invoices from each of the four sales teams is summarized in the table below.
a. If an invoice is selected randomly from the pooled set of invoices, what is the probability that it is from sales team \(\mathrm{C}\), given that it is from either team \(\mathrm{C}\) or \(\mathrm{D}\) ?
b. What is the probability that two randomly selected invoices from the pooled set of invoices, selected sequentially without replacement, are both over 180 days old?
c. If an invoice is selected randomly from the pooled set of invoices, what is the probability that it is from sales team C, given that is it under 120 days old?
d. If an invoice is selected randomly from the pooled set of invoices, what is the probability that it is from sales team A or B, given that it is less than or equal to 180 days old?
Step by Step Answer:
Mathematical Statistics For Economics And Business
ISBN: 9781461450221
2nd Edition
Authors: Ron C.Mittelhammer