A Sample of 220 Shoppers at a Large Suburban Mall

question 163

Multiple Choice

A sample of 220 shoppers at a large suburban mall were asked two questions: (1) Did you see a television adfor the sale at department store X during the past 2 weeks? (2) Did you shop at department store X during thepast 2 weeks? The responses to the questions are summarized in the table. What is the probability that arandomly selected shopper from the 220 questioned did not shop at department store X? Round the the nearestthousandth. $$\begin{array} { l | c | c } & \text { Shopped at X } & \text { Did Not Shop at X } \\\hline \text { Saw ad } & 100 & 35 \\\hline \text { Did not see ad } & 35 & 50\end{array}$$

• A) 0.386
• B) 0.159
• C) 0.227
• D) 0.614

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Definitions:

Entire Market

The total comprehensive scope of a marketplace, encompassing all buyers, sellers, and products involved.

Marginal Revenue

The additional income earned by selling one more unit of a product or service.

Peak Efficiency

The highest level of operational performance where resources are utilized in the most effective way possible with minimal waste.

Barriers To Entry

Obstacles that make it difficult for new firms to enter a market, such as high initial investment, licensing requirements, and access to technology.