Probability that the bank returns the checks


A liquor store owner is willing to cash personal checks for amounts up to $50, but she has become wary of customers wearing sunglasses. Fifty percent of checks written by persons wearing sunglasses bounce. In contrast, 98% of checks written by persons not wearing sunglasses clear the bank. She estimates that 10% of here customers wear sunglasses.

Find the probability that the bank returns the checks and marks it "insufficient funds".

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Basic Statistics: Probability that the bank returns the checks
Reference No:- TGS0847574

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