Probability
1 Compute Empirical Probability
-Use of the Internet for Shopping

question 236

Multiple Choice

Probability
1 Compute Empirical Probability
-Use of the internet for shopping is increasing dramatically, but still is somewhat age dependent. When a popular web site that sells books asked the age of users who bought products from them over the internet they obtained the following data. What is the probability that a buyer on this web site is aged $60 - 69$ ?

• A) \(2.27 \%\)
• B) \(3.14 \%\)
• C) \(3.16 \%\)
• D) \(2.32 \%\)

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Definitions:

Investment

The act of allocating resources, usually money, with the expectation of generating an income or profit.

Operating Activity

Activities that involve the core business operations of a company, such as selling, managing, and producing goods and services.

Paying Interest

The act of providing compensation to lenders for the use of borrowed money, usually calculated as a percentage of the principal amount.

Lenders

Individuals or institutions that provide funds to others under the agreement that the funds will be repaid, typically with interest.