What is the means-to-MAD ratio of the two data sets, expressed as a decimal?
1 answer:
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Answer:
a) There is a 45.53% probability that a person who walks by the store will enter the store.
b) There is a 41.07% probability that a person who walks into the store will buy something.
c) There is a 18.70% probability that a person who walks by the store will come in and buy something.
d) There is a 58.93% probability that a person who comes into the store will buy nothing.
Step-by-step explanation:
This a probability problem.
The probability formula is given by:
In which P is the probability, D is the number of desired outcomes and T is the number of total outcomes.
The problem states that:
123 people walked by the store.
56 people came into the store.
23 bought something in the store.
(a) Estimate the probability that a person who walks by the store will enter the store.
123 people walked by the store and 56 entered the store, so .
So
There is a 45.53% probability that a person who walks by the store will enter the store.
(b) Estimate the probability that a person who walks into the store will buy something.
56 people came into the store and 23 bought something, so .
So
There is a 41.07% probability that a person who walks into the store will buy something.
(c) Estimate the probability that a person who walks by the store will come in and buy something.
123 people walked by the store and 23 came in and bought something, so .
So
There is a 18.70% probability that a person who walks by the store will come in and buy something.
(d) Estimate the probability that a person who comes into the store will buy nothing.
Of the 56 people whom came into the store, 23 bought something. This means that 56-23 = 33 of them did not buy anything. So:
There is a 58.93% probability that a person who comes into the store will buy nothing.