The Easy Credit Company reports the following table representing a breakdown of
ID: 3059357 • Letter: T
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The Easy Credit Company reports the following table representing a breakdown of customers according to the amount they owe and whether a cash advance has been made. An auditor randomly selects one of the accounts. Cash Advance? Amounts owed by Yes No customers $o- $200-399.99 $400-599.99 $600-799.99 $800-999.99 $1,000 or more 4652 3285 2075 3582 951 7053 182 199.99 3918 952 6281 5072 28 What is the probability that a customer received a cash advance of $800 or more? What is the probability that a customer owed less than $400 and did not receive a cash advance? What is the probability that a customer owed less than $400 or received a cash advance? a. b. c. d. Given that a customer did not receive a cash advance, what is the probability that the customer e. Given that a customer owed less than $600, what is the probability that the customer received a f. Are the events 'did not receive a cash advance" and "owing less than $400 mutually exclusivei? B. Are the events "receive a cash advance" and "owing $1,000 or more" independent? Explain owed $1,000 or more? cash advance? Explain using probabilities. using probabilities.Explanation / Answer
The Easy Credit Company reports the following table representing a breakdown of customers according to the amount they owe and whether a cash advance has been made. An auditor randomly selects one of the accounts. Cash Advance? Amounts owed by Yes No customers $o- $200-399.99 $400-599.99 $600-799.99 $800-999.99 $1,000 or more 4652 3285 2075 3582 951 7053 182 199.99 3918 952 6281 5072 28 What is the probability that a customer received a cash advance of $800 or more? What is the probability that a customer owed less than $400 and did not receive a cash advance? What is the probability that a customer owed less than $400 or received a cash advance? a. b. c. d. Given that a customer did not receive a cash advance, what is the probability that the customer e. Given that a customer owed less than $600, what is the probability that the customer received a f. Are the events 'did not receive a cash advance" and "owing less than $400 mutually exclusivei? B. Are the events "receive a cash advance" and "owing $1,000 or more" independent? Explain owed $1,000 or more? cash advance? Explain using probabilities. using probabilities.
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