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posted by  frankieandmax on 10/13/2008 12:49:26 PM  |  status: Closed  

Probability help!!! Need a lifesaver

Course Textbook Chapter Problem
Statistics and Probability N/A N/A N/A
Question Details:
In order to obtain a profile on her customers and better understand their needs, the credit manager of a certain store collected data on the last 120 customers to enter the store.  Of the 40 men (M) in the group, 30 had a credit card (C) for the store.  Of the 80 women (W), 50 had a credit card.  While none of the men had a positive credit balance (B), 30 of the women reported a positive balance on their account.  The credit manager wanted to determine the probability that if a customer was selected at random that customer:
a.  Was a women with a credit card
b.  Was a woman with a positive balance
c.  was a man without a credit card
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posted by raiderx on 10/13/2008 1:12:32 PM  |  status: Live
Asker's Rating: Lifesaver   
frankieandmax's comment:
"Thank you so much!"
Response Details:
40 men - 30 had credit card-none had positve credit balance
80 women-50 had credit card-30 had positive credit balance
 
a.  Was a women with a credit card
 
50/120 = 5/12
 
b.  Was a woman with a positive balance
 
30/120 = 3/12 =1/4
 
c.  was a man without a credit card
 
10/120 = 1/12
"Dwell on the here and now, before it is there and gone." (Aubrey Charasz) Please rate all my answers, and if you still have doubts dont hesitate to ask
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posted by IKM on 10/13/2008 1:17:33 PM  |  status: Live
Asker's Rating: Helpful   
Response Details:
hello,
 
from the given information we have:
the probability that a women with a credit card is 50/80 = 0.625 
the probability that a woman with a positive balance is 30/50 = 0.6
the probability that  a man with a credit card is 30/40 = 0.75
thus the probability that a man without a credit card is = 1-0.75 = 0.25
 
hope this will help you
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