Are Customers More Loyal in the East or in the West

question 4

Multiple Choice

Are customers more loyal in the East or in the West? The following table is based on information from Trends in the United Sates, published by the food marketing Institute, Washington, D.C. The columns represent loyalty (in years) at a primary supermarket. The rows represent regions of the United States. What is the probability that a customer chosen at random is from the South given that he or she has been loyal 15 or more years? Round your answer to the nearest thousandth.
$$\begin{array} { l c r r r r r r } &\text { Less Than } & 1-2 & 3-4 & 5-9 & 10-14 & 15 \text { or More } & \text { Row Total } \\&1 \text { Year } & \text { Years } & \text { Years } & \text { Years } & \text { Years } & \text { Years }\\\text { East } & 32 & 54 & 59 & 112 & 77 & 118 & 452 \\\text { Midwest } & 31 & 68 & 68 & 120 & 63 & 173 & 523 \\\text { South } & 53 & 92 & 93 & 158 & 106 & 158 & 660 \\\text { West } & 41 & 56 & 67 & 78 & 45 & 86 & 373 \\\text { Column Total } & 157 & 270 & 287 & 468 & 291 & 535 & 2008\end{array}$$

• A)0.079
• B)0.239
• C)0.295
• D)0.417
• E)none of these choices

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Definitions:

Inventory

Assets held for sale in the ordinary course of business, as well as materials and supplies used in producing goods available for sale.

Chart of Accounts

The Chart of Accounts is an organized list of all accounts in the general ledger of a company, used for recording transactions and building financial statements, categorized by assets, liabilities, equity, revenues, and expenses.

Merchandising Business

A type of business that purchases finished products and sells them to consumers, making a profit from the markup.

Service Business

A company that provides intangible products, such as expertise or labor, rather than physical goods.