Business 19 Sec EN 1 Week 5 Discussion 2

Business 19 Sec EN 1  Week 5 Discussion 2 | chatbot las positas  community college

Today we will work on a contingency table to figure probabilities.   This is a group exercise, please assist each other in answering the following questions. I will monitor the groups to assist in the assignment.

The Easy Credit Company reports the following table representing a breakdown of customers accounting to the amount they owe and whether a cash advance has been made.  An auditor randomly selects one of the accounts.

Accounts owned by Customers and Cash Avance

Accounts owned by Customers Cash Advance

  Yes No

$0 – 199.99 245 2890

$200 – 399.99 380 1,700

$400 – 599.99 500 1,425

$600 – 799.99 415 940

$800 to 999.99 260 480

$1000 or more 290 475

Total Customers 2,090 7,910

1. What is the probability that a customer received a cash advance?

2. What is the probability that a customer owed less than $200 and received a cash advance?

3. What is the probability that a customer owed less than $200 or received a cash advance?

4. Given that the customer-owned $1000 or more, what is the probability that the customer received a cash advance?

5. Are the events "receiving a cash advance" and "owning $1000 or more" independent?  Explain why or why not.

Questions 1 to 5 - show all work and support for an answer

 Return to Week 3

• All calculations are shown step by step and any explanations as needed. 

• Minimum all calculations displayed and describe what the final answer means to the business or define the results Friday post and respond to one classmate using 100 words by each Sunday post.

• To review the full Rubric, click on the three dots in the top right side of the discussion

• Submissions can be written in the post, a file may be attached (Google Doc, Word, Excel, or Photo)

To see the full rubric, click on the three dots at the top of the discussion