Suppose You Want to Estimate the Probability That a Randomly

question 1

Multiple Choice

Suppose you want to estimate the probability that a randomly selected customer at a particular grocery store will pay by credit card. Over the past 3 months, 70,600 purchases were made, and 22,200 of them were paid for by credit card. What is the estimated probability that a randomly selected customer will pay by credit card? ​

• A)0.3144
• B)0.5391
• C)0.7233
• D)0.8548
• E)0.8633

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Definitions:

Good Performers

Individuals or entities that consistently achieve or exceed set performance metrics in their respective fields or activities.

Excessive Competition

A market condition where too many competitors are vying for the same customers, potentially harming profitability.

Motivating Factors

Elements or drivers that influence individuals' behavior and can increase their enthusiasm and commitment towards achieving personal or organizational goals.

Recognition

The process of formally acknowledging a particular status, achievement, or compliance with standards, often used in professional contexts.