The Baker Oil and Gas Company has four retail locations,code-named A,B,C,and D.The following table illustrates the percentage of total company sales at each store and also the percentage of customers at that store who make purchases with debit cards:
Based on this information,the probability that a customer will use a debit card is just slightly greater than 0.23.

Question

The Baker Oil and Gas Company has four retail locations,code-named A,B,C,and D.The following table illustrates the percentage of total company sales at each store and also the percentage of customers at that store who make purchases with debit cards:
  Based on this information,the probability that a customer will use a debit card is just slightly greater than 0.23.

Quizplus · Accepted Answer

To find the probability that a customer will use a debit card, we need to find the weighted average of the percentages of customers using debit cards at each store. The calculation is as follows:

(0.10 x 0.32) + (0.25 x 0.21) + (0.30 x 0.26) + (0.35 x 0.18) = 0.2315

Therefore, the probability that a customer will use a debit card is just slightly greater than 0.23 (i.e., 0.2315), which means option A is correct.

The Baker Oil and Gas Company Has Four Retail Locations,code-Named