Relationship between the way a customer paid for the item


A super market analysed its most recent sales and determined the relationship between the way a customer paid for the item and the price category of the item. The joint probabilities in the following table were calculated.

 

Size of purchase

Method of payment

Cash

Credit card

Debit card

Under $20

0.23

0.03

0.04

$20-$100

0.05

0.21

0.09

Over $100

0.02

0.23

0.10

(a) Find the probability that a credit card purchase was over $100.

(b) Determine the proportion of purchase made by credit and debit cards.

(c) Are the event 'payment by cash' and 'purchase of over $100' mutually exclusive? Explain.

(d) Are the event 'payment by cash' and 'purchase of under $20' independent? Explain.

Solution Preview :

Prepared by a verified Expert
Basic Statistics: Relationship between the way a customer paid for the item
Reference No:- TGS0686883

Now Priced at $20 (50% Discount)

Recommended (91%)

Rated (4.3/5)