John runs a computer software store. Yesterday he counted 131 people who walked

Question

John runs a computer software store. Yesterday he counted 131 people who walked by the store, 56 of whom came into the store. Of the 56, only 25 bought something in the store. (Round your answers to two decimal places.) (a) Estimate the 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. (c) Estimate the 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.

Explanation / Answer

Solution:

a) The probability that a person who walks by the store will enter the store = 56/131
b) The probability that a person who walks into the store will buy something = 25/56
c) The joint probability of the two events is 56/131 * 25/56 = 25/131
d) (56-25)/56 = 31/56

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