A marketing company specializes in providing assessments of prospects for sport shops in strip malls. The prospects are rated as good, fair, or poor. Below is a table representing the number of prospects making profits and not making profits in the first year. Good Fair Poor profit 96 36 4 no profit 24 24 16 If a prospect was randomly selected, what is the probability the prospect would make a profit? Round your answer to two decimal places. ______________ If a prospect was randomly selected, what is the probability the prospect would be rated as good or would not make a profit? Round your answer to two decimal places. ________________ If a prospect was randomly selected, what is the probability the prospect was rated as poor, given the prospect did not make a profit? Round your answer to two decimal places. _____________
A marketing company specializes in providing assessments of prospects for sport shops in strip malls. The prospects are rated as good, fair, or poor. Below is a table representing the number of prospects making profits and not making profits in the first year. Good Fair Poor profit 96 36 4 no profit 24 24 16 If a prospect was randomly selected, what is the probability the prospect would make a profit? Round your answer to two decimal places. ______________ If a prospect was randomly selected, what is the probability the prospect would be rated as good or would not make a profit? Round your answer to two decimal places. ________________ If a prospect was randomly selected, what is the probability the prospect was rated as poor, given the prospect did not make a profit? Round your answer to two decimal places. _____________
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 50E: Flexible Work Hours In a recent survey, people were asked whether they would prefer to work flexible...
Related questions
Question
A marketing company specializes in providing assessments of prospects for sport shops in strip malls. The prospects are rated as good, fair, or poor. Below is a table representing the number of prospects making profits and not making profits in the first year.
| Good | Fair | Poor | |
| profit |
96 |
36 | 4 |
| no profit | 24 | 24 | 16 |
- If a prospect was randomly selected, what is the
probability the prospect would make a profit? Round your answer to two decimal places. ______________ - If a prospect was randomly selected, what is the probability the prospect would be rated as good or would not make a profit? Round your answer to two decimal places. ________________
- If a prospect was randomly selected, what is the probability the prospect was rated as poor, given the prospect did not make a profit? Round your answer to two decimal places. ________________
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Recommended textbooks for you