A. What is the probability that a customer who bought an item at the regular price purchased the extended warrant Probability = B. What is the probability that a customer buys an extended warranty? Probability =

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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The owner of an appliance store is interested in the relationship between the price at which an item is sold (reqular or sale price) and the customer's decision on whether to purchase and extended warranty
After analyzing her records, she produced the following joint probabilities:
Did not purchase
extended warranty extended warranty
Purchased
Regular Price
0.23
0,53
Sale Price
0.1
0.14
A. What is the probability that a customer who bought an item at the regular price purchased the extended warranty?
Probability =
B. What is the probability that a customer buys an extended warranty?
Probability =
Transcribed Image Text:The owner of an appliance store is interested in the relationship between the price at which an item is sold (reqular or sale price) and the customer's decision on whether to purchase and extended warranty After analyzing her records, she produced the following joint probabilities: Did not purchase extended warranty extended warranty Purchased Regular Price 0.23 0,53 Sale Price 0.1 0.14 A. What is the probability that a customer who bought an item at the regular price purchased the extended warranty? Probability = B. What is the probability that a customer buys an extended warranty? Probability =
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