Of the Last 500 Customers Entering a Supermarket,50 Have Purchased

question 168

Multiple Choice

Of the last 500 customers entering a supermarket,50 have purchased a wireless phone.If the relative frequency approach for assigning probabilities is used,the probability that the next customer will purchase a wireless phone is

• A)0.10
• B)0.90
• C)0.50
• D)None of these choices.

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Definitions:

Corporate Financial Planning

Involves the development of long-term operational plans for a company, ensuring adequate funding and maximizing shareholder value.

Forecasting

The process of making predictions of the future based on past and present data and analysis of trends.

Business Strategy

A plan of action designed by organizations to achieve defined goals, compete in the market, and improve financial and market performance.

FA/Sales Ratio

A financial ratio that compares a company's fixed assets to its sales revenue, indicating how well assets are being used to generate sales.