55% of a retailer’s sales are in store and 45% on line. Of the in store sales, 61% are cash and 39%
Question: 55% of a retailer’s sales are in store and 45% on line. Of the in store sales, 61% are cash and 39% are credit. Of the online sales, 17% are cash and 83% credit. Use this information to find the following probabilities.
a) That a sale in store.
b) That a sale is cash given that it is in store.
c) That a sale is cash and is in store.
d) Suppose it is known that a sale is a cash sale. Use the tabular form of Bayes theorem to find the probability that it is an in store sale.
e) Find the probability that a sale is an in store sale or a cash sale.
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Answer: The downloadable solution consists of 2 pages
Deliverables: Word Document
Deliverables: Word Document
