1. Assume that 71% of all customers will take free samples. Furthermore, of thos
ID: 3269257 • Letter: 1
Question
1.Assume that 71% of all customers will take free samples. Furthermore, of those who take the free samples, assume that about 32% will buy what they have sampled. Suppose that you set up a counter in a supermarket offering free samples of a new product and that the day you were offering free samples, 433 customers passed by your counter. What is the probability that a customer will take a free sample and buy the product? [Hint: Use the multiplication rule for dependent events. Notice we are given the conditional probability P(buy, given sample) = 0.32, while P(sample) = 0.71.]
1.Assume that 71% of all customers will take free samples. Furthermore, of those who take the free samples, assume that about 32% will buy what they have sampled. Suppose that you set up a counter in a supermarket offering free samples of a new product and that the day you were offering free samples, 433 customers passed by your counter. What is the probability that a customer will take a free sample and buy the product? [Hint: Use the multiplication rule for dependent events. Notice we are given the conditional probability P(buy, given sample) = 0.32, while P(sample) = 0.71.]
Explanation / Answer
Given P(Buy / Sample) = 0.32 and P(Sample) = 0.71
The probability that a customer will take a free sample and buy the product is
P(Buy and Sample) = P(Buy / Sample) * P(Sample)
= 0.32 *0.71 = 0.2272
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.