A Sporting Goods Store Announces a “Wheel of Savings” Sale

question 79

Essay

A sporting goods store announces a “Wheel of Savings” sale. Customers select the merchandise they want to purchase, then at the cash register they spin a wheel to determine the size of the discount they will receive. The wheel is divided into 12 regions, like a clock. Six of those regions are red, and award a 10% discount. The three white regions award a 20% discount and two blue regions a 40% discount. The remaining region is gold, and a customer whose lucky spin lands there gets a 100% discount - the merchandise is free! Show your work.


-What is the probability that a customer gets at least a 40% discount?

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Definitions:

Trademarks

Symbols, names, phrases, or logos legally registered or established by use as representing a company or product.

Unrealized Inventory Profits

Profits that have been recorded on paper due to an increase in inventory value but have not been realized through sales.

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, without having control over those policies.

Preferred Share Issue

The process of offering preferred shares to investors, which are stock shares that have priority over common shares in dividend payments and asset liquidation, but usually do not have voting rights.