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 calculate the weighted average of the percentage of customers at each store who use debit cards. This can be calculated as:
(0.3*0.15) + (0.25*0.2) + (0.28*0.3) + (0.17*0.35) = 0.2315
This means that the probability of a customer using a debit card is just slightly greater than 0.23 (rounded to two decimal places). Therefore, the answer is A) True.

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