As an Incentive to Get New Customers, the Local Branch $$\begin{array} { | c | c | c | c | c | } \hline 10 & 30 & 10 & 30 & 10 \\\hline 20 & 10 & 50 & 10 & 20 \\\hline\end{array}$$

question 26

Essay

As an incentive to get new customers, the local branch of a bank launched "bouncing
for bucks." During this week long event, any customer opening a new checking account
with the bank would have the opportunity to throw a bouncy rubber ball into a large box
divided into squares. Each square was labeled with a dollar amount that would be
deposited into his / her new checking account. The way the box was labeled is shown
below. $$\begin{array} { | c | c | c | c | c | } \hline 10 & 30 & 10 & 30 & 10 \\\hline 20 & 10 & 50 & 10 & 20 \\\hline\end{array}$$
a. What is the probability that a customer gets $20 or more?
b. What is the probability that a customer gets less than $20?
c. What is the probability that a customer gets $20 or $30?
d. What is the probability that two customers in a row get $50?

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Definitions:

Corporations' Profits

The financial earnings that remain for a corporation after all expenses, taxes, and costs have been deducted from total revenue.

Taxes

Mandatory financial charges or levies imposed by a government on its citizens and businesses as a source of revenue for the government, used to fund public services and goods.

Labor

Human effort, including both physical and mental effort, used in the production of goods and services.

Deadweight Loss

The decrease in economic productivity that happens when a free market does not reach an equilibrium state for a particular good or service.