A Musical Instruments Retailer Has 10,000 Point-Of-Sale Transactions Out of Which

question 1

Essay

A musical instruments retailer has 10,000 point-of-sale transactions out of which 1500 sales included both items of electric guitars and guitar cases, and out of which 750 had sales of new strings. If the electric guitars are considered A, the guitar cases are considered B, and the strings are considered C, then the associate rule for these sales become "If A and B are purchased, then C is also purchased." Calculate the confidence level, expected confidence level, and lift for this rule, given that total transactions for C is 3000.

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Definitions:

High Incomes

Earnings that are significantly above the average or median level in a given area or within a specific profession.

Stressful Lives

Refers to the condition of experiencing high levels of stress due to various factors such as work, relationships, or financial problems.

Stress Research

The study of the effects of stress on the mind and body, including how it influences health and behavior.

Hans Selye

A scientist known for his research on stress and its effects on the human body, introducing the concept of the General Adaptation Syndrome.