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In the course of her investigation, Sloan is also interested in whether customers would purchase a more expensive bike design that can fold. A bicycle that can fold takes very little space in a home. In the collected sample, there are 250 people that own a Kiloton bicycle. 60% of bicycle owners care about saving space in their homes, and 40% of those are willing to pay more for a foldable bicycle. The other 40% do not care about saving space, and only 15% of those are prepared to pay more for a foldable bicycle. Draw a probability tree to help you to work out the following two probabilities. Round your answers to 4dp.: a) The probability that a randomly chosen person is willing to pay for a more expensive foldable bicycle; b) The probability that a person cares about saving space given they are willing to pay for a more expensive design.

In the course of her investigation, Sloan is also interested in whether customers would purchase a more expensive bike design that can fold. A bicycle that can fold takes very little space in a home. In the collected sample, there are 250 people that own a Kiloton bicycle. 60% of bicycle owners care about saving space in their homes, and 40% of those are willing to pay more for a foldable bicycle. The other 40% do not care about saving space, and only 15% of those are prepared to pay more for a foldable bicycle. Draw a probability tree to help you to work out the following two probabilities. Round your answers to 4dp.: a) The probability that a randomly chosen person is willing to pay for a more expensive foldable bicycle; b) The probability that a person cares about saving space given they are willing to pay for a more expensive design.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 25PPS
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In the course of her investigation, Sloan is also interested in whether customers would purchase a more expensive bike design that can fold. A bicycle that can fold takes very little space in a home. In the collected sample, there are 250 people that own a Kiloton bicycle. 60% of bicycle owners care about saving space in their homes, and 40% of those are willing to pay more for a foldable bicycle. The other 40% do not care about saving space, and only 15% of those are prepared to pay more for a foldable bicycle. Draw a probability tree to help you to work out the following two probabilities. Round your answers to 4dp.: a) The probability that a randomly chosen person is willing to pay for a more expensive foldable bicycle; b) The probability that a person cares about saving space given they are willing to pay for a more expensive design.
Transcribed Image Text:In the course of her investigation, Sloan is also interested in whether customers would purchase a more expensive bike design that can fold. A bicycle that can fold takes very little space in a home. In the collected sample, there are 250 people that own a Kiloton bicycle. 60% of bicycle owners care about saving space in their homes, and 40% of those are willing to pay more for a foldable bicycle. The other 40% do not care about saving space, and only 15% of those are prepared to pay more for a foldable bicycle. Draw a probability tree to help you to work out the following two probabilities. Round your answers to 4dp.: a) The probability that a randomly chosen person is willing to pay for a more expensive foldable bicycle; b) The probability that a person cares about saving space given they are willing to pay for a more expensive design.
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