A Recent Survey of Local Cell Phone Retailers Showed That

question 20

Essay

A recent survey of local cell phone retailers showed that of all smart phones sold last
month, 64% of buyers also owned a tablet of laptop, 28% also owned an iPod type music
player and 22% owned both.
A. What is the probability that a smart phone buyer also owned a tablet/ laptop or a music
player?
5-1

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, allowing for more accurate forecasting and planning.

Customers Served

The number of customers who have received services or goods from a business.

Revenue Formulas

Mathematical expressions or models used to calculate a company's earnings from its operations over a period.

Planning Budget

A forecast of income and expenditure over a specified future period, used to guide the financial direction of a business.