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

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