Data was collected regarding purchases at a major department store. Fo

mronjo7n

mronjo7n

Answered question

2021-11-27

Data was collected regarding purchases at a major department store. For each customer making a purchase, the amount of the purchase and the method of payment was recorded. The data is summarized in the table below.
Under$50$50$200Over$200TotalCash25301065Store Credit Card407050160Other Credit Card4515080275Total110250140500
Use this data to estimate the following probability.
Find the probability that a customer will spend under $50 on a purchase but will not use cash.
Give the answer as a decimal.
The probability is ?.

Answer & Explanation

Abel Maynard

Abel Maynard

Beginner2021-11-28Added 19 answers

Step 1
Given,
Under$50$50$200Over$200TotalCash25301065Store Credit Card407050160Other Credit Card4515080275Total110250140500
P(Customer will spend under 50 on purchase but will not use cash)?
Step 2
P(Customer will spend under 50 on purchase but will not use cash)?
=40+45500
=85500
=0.17

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