SCENARIO 4-3 A Survey Is Taken Among Customers of a Fast-Food Restaurant

question 140

Short Answer

SCENARIO 4-3
A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken.Of 200 respondents selected,75 were children and 125 were adults.120 preferred hamburger and 80 preferred chicken.55 of the children preferred hamburger.
-Referring to Scenario 4-3,assume we know the person is a child.The probability that this individual prefers hamburger is_____ .

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Definitions:

Net Profit Margin

A financial ratio that shows the percentage of net income generated from total revenue.

Gross Margin

The difference between sales revenue and the cost of goods sold, representing the profitability before deducting operating expenses.

Return On Total Assets

A financial ratio that measures the net income produced by total assets during a period by comparing net income to the average total assets.

Return On Equity

A measure of financial performance calculated by dividing net income by shareholders' equity, indicating how well a company uses investments to generate earnings growth.