Discount they will receive. the scratch wheel is divided into 12 slices. Six sli

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Discount they will receive. the scratch wheel is divided into 12 slices. Six slices are red and award a 10% discount, slices are white and award a 20% discount, and two slices are blue and award a 40% discount. the remaining slice is and awards a 100% discount if the customer scratches that slice! the probability that two customers in a row get a 20% discount is 10/12 0.0625 9/12 3/12 2/12 A recent survey of local cell phone retailers showed that of all cell phones sold last month, 64% had a camera, 28% had a music player and 22% had both. the probability that a cell phone sold last month had a camera or a music player is .70 .22 .08 .92 .30 A recent survey of local cell phone retailers showed that of all cell phones sold Last month, 64% had a camera, 28% had a music player and 22% had both. the probability that a cell phone sold last month did not have either a camera or a music player is .70 .22 .92 .30 .08 the option to buy extended warranties is commonplace with most electronics purchases. But does the type of purchase affect a consumer's willingness to pay extra for an extended warranty? Data for 420 consumers who purchased big screen TVs and laptop computers from a leading electronics retailer are summarized in the table. Which of the following statement is true? the decision to purchase an extended warranty and type of electrons (big screen TV or laptop computer) purchased are independent. the decision to purchase an extended warrants and type of electronics (big screen TV or laptop computer) purchased are not independent. the decision to purchase an extended warrants and type of electronics (big screen TV or laptop computer) purchased are disjoint events. the decision to purchase an extended warranty and type of electronics (big screen TV or laptop computer) purchased are mutually exclusive. the decision to purchase an extended warranty and type of electronics (big screen TV or laptop computer) purchased are related. As accounts manager in your company, you classify 75% of your customers as "good credit" and the rest as "risky credit" depending on their credit rating. Customers in the "risky" category allow their accounts to go overdue 50% of the time on average, whereas those in the "good" category allow their accounts to become overdue only 10% of the time. What percentage of overdue accounts are held by customers in the "risky credit* category? 93.75% 20% 12.5% 62.5%

Explanation / Answer

(31)

Required probability = 0.64 + 0.28 - 0.22 = 0.7

(32)

Required probability = 1 - 0.7 = 0.3

(33)

The two factors are independent

(34)

Overdue accounts in 'good credit' category = 75*0.1 = 7.5

Overdue accounts in 'risky credit' category = 25*0.5 = 12.5

Required % = 12.5/(12.5+7.5) * 100 = 62.5%

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