What is the probability that a customer used cash

Assignment Help Accounting Basics

Reference no: EM133506255

Question: A store analyzed a sample of its recent sales and recorded the value of the sale and the method of payment. The results are summarized in the following table: Size of purchase Show basic workings. Answers may be left as fractions.

a) What is the probability that a customer used cash?

b) What is the probability that a cash purchase was under $20?

c) What is the probability that a customer made a purchase under $20 or used cash?

d) What is the probability that a customer paid by cash, given that they spent under $20?

e) Are the events payment by cash and "purchase under $20" independent? Explain.

Reference no: EM133506255

Questions Cloud

Analyze each of the alternatives based on your calculations : Analyze each of the alternatives based on your calculations and illustrate to the executive team which alternative should yield the highest return.

Process is not in control according to p-charts : The process is not in control. Although the process is in control according to the Xbar and R charts, the process is not in control according to the p-charts.

Explain effect of gasb 54 on accounting for government funds : Explain what GASB is, what its role is, and what its relationship is with the Municipal Finance Officers Association.Explain the effect of GASB 54 on

What kind of organizational structure : What kind of organizational structure does the organization use?

What is the probability that a customer used cash : What is the probability that a customer used cash? What is the probability that a cash purchase was under $20? What is the probability that a customer

Armour is well-known athletic gear and sportswear firm : Under Armour is a well-known athletic gear and sportswear firm that has achieved tremendous commercial success.

How the template can useful to you throughout the research : Reflections on how the template can be useful to you throughout the research and the capstone/dissertation courses the my Ed.D/

Calculate the five components of roe and verify : Compute return on equity (ROE) for both companies for fiscal 2013 and 2012. Calculate the five components of ROE and verify that their product equals ROE.

Research and investigate the strategy : Research and investigate the strategy that Under Armour is using to stay on top of the game and successfully compete against other companies in the market.

User Account

All Pages